{"id":2203843,"date":"2024-02-15T16:16:57","date_gmt":"2024-02-15T07:16:57","guid":{"rendered":"https:\/\/koreapro.org\/?p=2203843"},"modified":"2024-02-16T10:24:53","modified_gmt":"2024-02-16T01:24:53","slug":"poverty-and-increased-life-expectancy-mean-many-senior-south-koreans-must-work","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/02\/poverty-and-increased-life-expectancy-mean-many-senior-south-koreans-must-work\/","title":{"rendered":"Poverty and increased life expectancy mean many senior South Koreans must work"},"content":{"rendered":"
In South Korea, elderly workers, legally defined as those aged 60 and up, are now projected to <\/span>outnumber<\/span><\/a> those in their 20s by the end of 2024, signaling a deep change in the country’s demographic structure.\u00a0<\/span><\/p>\n Currently, workers in their 20s constitute the largest segment of the workforce, accounting for 23%. However, they are closely followed by the senior population, who comprise a whopping 21%.<\/span><\/p>\n This shift, alongside increasing life expectancy, falling birth rate, and the <\/span>highest rate of poverty<\/span><\/a> among the elderly population in the OECD, paints a stark picture that employment for elderly Koreans is no longer a choice but a necessity and working past retirement age (<\/span>60<\/span><\/a> in South Korea) is a matter of survival.\u00a0<\/span><\/p>\n Jeon Young-mook, 75, took a job as an apartment security guard following his retirement from a career in public administration at the age of 58. The physically demanding job sees Jeon work 24-hour shifts every two days \u2014 but it was one of the rare opportunities still open for a man his age.\u00a0<\/span><\/p>\n \u201cI have a daughter and a son to think about and I wanted to reduce their burden, especially with high healthcare expenses and <\/span>inadequate pension funds<\/span><\/a>. Working as a security officer allows me to support my family and maintain a sense of independence,\u201d Jeon told <\/span>Korea Pro<\/span><\/i>.\u00a0<\/span><\/p>\n