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SK hynix Will Let Outstanding Semiconductor Engineers Work Past Retirement Age

SK hynix Will Let Outstanding Semiconductor Engineers Work Past Retirement Age

SEOUL, Dec. 28 (Korea Bizwire) — SK hynix Inc. has announced new policy to continue employing outstanding engineers past retirement. A number of selected engineers will be able to continue to work without having to retire. Currently, the retirement age at SK hynix is 60. Experts argue that the new measure aims not only to [...]

8-Year Gap Between Actual and Expected Retirement Age

8-Year Gap Between Actual and Expected Retirement Age

SEOUL, Oct. 8 (Korea Bizwire) — A new survey has found that while non-retirees predicted their retirement age to be 65 years old, actual retired respondents had to quit work at 57. In addition, the survey found that 1.98 million won was the minimum monetary amount needed per month after retirement to cover daily expenses. [...]

Working Class Self-Evaluate Retirement Age as 50.9

Working Class Self-Evaluate Retirement Age as 50.9

SEOUL, June 2 (Korea Bizwire) – Although this year was supposed to mark the beginning of a ‘retirement in your 60s’ cultural shift, current workers have projected their own retirement age to be barely over 50. ‘Job Korea’, an employment portal website, conducted a survey on 1,405 employees of both genders with the question, ‘Considering the current [...]

76% of Large Firms Consider Wage Scheme Reform if 60 Year Retirement Age Bill Passes

76% of Large Firms Consider Wage Scheme Reform if 60 Year Retirement Age Bill Passes

SEOUL, Dec. 17 (Korea Bizwire) – Survey results revealed that seven out of ten large corporations with more than 300 employees would try to reform their salary schemes if the government pushes for mandating the retirement age to 60. According to a survey conducted by Research & Research commissioned by the Federation of Korean Industries, the average [...]

Younger Koreans Spend Less for Fear of Post-retirement Life

Younger Koreans Spend Less for Fear of Post-retirement Life

SEOUL, May 28 (Korea Bizwire) – A recent survey showed that the stagnation in consumption in the private sector comes from the anxiety over the life after retirement. Because of the longer life expectancy and shortening working period, younger generations are reluctant to spend now in preparation for their future. According to a Korea Development [...]