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 [...]
SEOUL, Jul. 26 (Korea Bizwire) — On July 25, Statistics Korea released its findings on the labor market for the elderly (ages 55 to 79). Titled “Results of Supplementary Research on the Elderly Labor Market for May, 2017”, the report contains extensive insight into the elderly population’s general work history, pensions, and attitudes towards work [...]
SEOUL, Jul. 12 (Korea Bizwire) — Middle-aged South Koreans want to work longer and believe they need about half of their present salaries to enjoy a stable life after retirement, a local business lobby said Wednesday. In a survey of 1,136 Koreans aged 40 or older, the Federation of Korean Industries’ Center for Large and [...]
SEOUL, Jun. 30 (Korea Bizwire) — Eight out of ten low-income, middle-aged and elderly people between the ages of 38 and 63 will likely face an uncertain financial future after retirement without a private pension or retirement pension, let alone the national pension, even after they turn 65. This forecast is based on an audit [...]