SEOUL, Nov. 6 (Korea Bizwire) – A new survey has revealed that seven out of 10 Korean companies believe extending the retirement age would create significant management challenges due to seniority-based wage systems, according to findings released on November 5 by the Korea Enterprises Federation (KEF). The survey, conducted by Research & Research on behalf of [...]
SEOUL, Oct. 22 (Korea Bizwire) – As discussions about extending the retirement age gain momentum in South Korea, a recent survey reveals that 8 out of 10 companies view such a change positively. The push for this shift comes as the nation grapples with a shrinking working-age population and improvements in the health of older adults. [...]
SEOUL, Oct. 17 (Korea Bizwire) – A recent survey has revealed the emergence of a “new elderly” demographic in South Korea, characterized by higher income, better education, and shifting values regarding inheritance and self-perception of age. This trend, partly attributed to the baby boomer generation (born 1955-1963) entering their senior years, is reshaping traditional notions of [...]
SEOUL, Oct. 15 (Korea Bizwire) — The SSG Landers announced Tuesday they will hold a retirement ceremony next year for their former outfielder Kim Kang-min. Kim, 42, announced his retirement after spending the 2024 Korea Baseball Organization (KBO) season with the Hanwha Eagles. But he had played for the Landers/SK Wyverns franchise from 2002 to [...]
SEOUL, Aug. 13 (Korea Bizwire) – A recent study has revealed that one in eight middle-aged South Koreans are caught in a challenging predicament, shouldering the burden of family care while simultaneously lacking adequate preparation for their own retirement. The Korea Institute for Health and Social Affairs (KIHASA) released a report on August 11 titled “The [...]
SEOUL, Jul. 3 (Korea Bizwire) – The Bank of Korea (BOK) has released a study highlighting the significant economic implications of the impending retirement of South Korea’s second generation of baby boomers. The research suggests that as over 9.5 million individuals born between 1964 and 1974 reach the legal retirement age of 60 over the next [...]
SEOUL, May 27 (Korea Bizwire) – Two out of three employed individuals with disabilities in South Korea are working in precarious, irregular jobs, according to a new government report highlighting the economic vulnerabilities faced by this population. The findings also reveal alarmingly low levels of retirement preparation, even as the nation’s disabled community rapidly ages. Based [...]
SEOUL, May 20 (Korea Bizwire) – With extending the retirement age emerging as a key issue in this year’s wage and collective bargaining negotiations at major South Korean companies, discussions on the matter are expected to take place at Hyundai Motor, a leader in the country’s automotive industry. On May 19, the Dong-A Ilbo reported that [...]
SEOUL, Apr. 29 (Korea Bizwire) – A staggering 81 percent of South Koreans risk facing an income drought after retirement, according to a recent survey, essentially equating retirement with poverty for a large segment of the population. The survey by the Korea Insurance Research Institute (KIRI) revealed that over 80 percent of non-retirees are ill-prepared for [...]
SEOUL, Apr. 25 (Korea Bizwire) – Maintaining a stable lifestyle after retirement in South Korea requires a nest egg of at least 1.1 billion won, according to a new analysis, with health care costs and support for adult children emerging as major expenses alongside basic living costs. The figure, which factors in 30 years of retired [...]