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. [...]
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 [...]
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 [...]
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 [...]
SEOUL, May 12 (Korea Bizwire) – SK Telecom decided to raise the retirement age of its employees to 60 from current 58 and introduce a “wage peak system.” SK Telecom recently signed a collective agreement with its trade union on various issues like the extension of the retirement age, wage peak scheme, and expansion of [...]
SEOUL, Korea, April 18, 2014 (Korea Bizwire) – The employers in Korea are getting worried about the increasing pressure of higher labor costs upon “Extension of the Retirement Age to 60 Laws” to be taking effect in 2016. In order to minimize the damage, companies are calling for a wage peak system. According to the [...]
SEOUL, Korea, April 9 (Korea Bizwire) – According to an infographic put out by the Seoul Institute on after-retirement plans for Seoul citizens, the average age of retirement considered appropriate was 64.2 years of age. The data was based on a survey on 1,000 houses whose family heads are aged between 20 and 69. By age [...]