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Monday, November 29, 2004

retirement age in Korea

Korean Development Institute has surveyed that the actual retirement age of Koreans is 68 years on the average, which is 14 years after the retirement from one's main career occupation at 54 (via Chosun Ilbo). Men spend on the average 13 years in another occupation before retiring completely, and women 14.5 years; also the age of women's final retirement is higher than men's.

This once again tells that "retiring" in Korea doesn't mean the same as what many are accustomed to in the West - getting a pension, being leisured, having hundred and ten hobbies, but trying to scrape together a living. (Not that many pensioners were not having economically hard time in the West as well.) Sure those elders with well-earning children and good relations to their daughters-in-law should be doing fine.

What are the jobs that the retirees have after they retire or are let go from their main occupation? The article doesn't talk about that, but jobs like apartment block guard, all kinds of small businesses, and book salesman are common.

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