SEOUL, Nov. 11 (Korea Bizwire) — The average retirement age set by South Korean big businesses reached 60.2 in 2017, up significantly from 57.5 in 2013, a report by a parliamentary research service showed Sunday. According to the National Assembly Research Service (NARS), the official age of retirement for companies with more than 300 people [...]
SEOUL, Oct. 18 (Korea Bizwire) — Nearly half of all South Koreans say they are economically unprepared for life after retirement. According to a study conducted by the Korea Insurance Research Institute, 45.9 percent of 2,440 adults surveyed said that “they were not prepared economically for the final years of their lives.” Among respondents, 38.8 [...]
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, Aug. 31 (Korea Bizwire) – An increasing number of 50- and 60-somethings in Korea are getting national qualifications for technical skills, as they seek out their second life. According to a press release from the Ministry of Employment and Labor (MOEL) on Aug. 29, 63,929 out of 677,686 technical qualification certificates were issued to test [...]
JASPER, Ind., Jun. 28 (Korea Bizwire) — Kimball Electronics, Inc. (Nasdaq:KE), announced today that Julie Dutchess, Vice President, Human Resources, will retire after nearly 43 years with the company. Ms. Dutchess started her career at the Jasper, Indiana manufacturing operation and held various positions of increasing responsibility before she was named Vice President, Human Resources [...]
SUWON, Jun. 11 (Korea Bizwire) — A new survey has revealed that 1 out of 2 teachers in their 20s and 30s say they don’t intend to retire as a teacher. Kim Cha-myeong, an official at the Gyeonggi Provincial Office of Education and a teacher himself, on Saturday revealed the results of an online survey [...]
SEOUL, May 25 (Korea Bizwire) — A recent survey commissioned by the Ministry of Health and Welfare has revealed that 3 out of 10 elderly adults above the age of 65 were found to be economically active because they were unprepared for retirement. The survey found that 30.9 percent of 10,299 individuals questioned between April [...]
SEOUL, March 22 (Korea Bizwire) — The amount of corporate retirement pension funds managed by South Korea’s financial institutions gained 14.6 percent in 2017 from a year ago, but their annual rate of return was below 2 percent, data showed Thursday. The accumulated corporate retirement pension funds stood at 168.4 trillion won (US$158 billion) as [...]
SEOUL, Jan. 29 (Korea Bizwire) — The average retirement age for salaried workers topped 61 years last year as a law raising the retirement age for employees to 60 came into full effect, the labor ministry said Sunday. A survey by the ministry found that workers were retiring at an average age of 61.1 in [...]
SEOUL, Dec. 7 (Korea Bizwire) – A shocking report has revealed that 6 in 10 middle class families in South Korea could suffer from financial hardships after retirement due to a lack of proper preparation. A study conducted by NH Investment & Securities’ research center found that 61.7 percent of middle class households believe their income [...]