For many teenagers, finishing school feels like the end of hard work. But for many Korean seniors, “finishing work” is not a choice at all. A growing number of older adults continue working well into their late 60s and 70s, not to stay active, but because stopping would mean losing the income they rely on.
South Korea now has the highest senior employment rate among OECD countries. More than one-third of people aged 65 and older remain in the workforce. Surveys show the top reason is simple: living costs. The national pension provides seniors an average of about 660,000 won per month ? far below what is needed to cover basic expenses. Even after decades of labor, many cannot afford to retire.
Another challenge is what experts describe as the “income gap.” Many full-time workers exit their main jobs around age 53, but they do not receive full pension benefits until their early to mid-60s. That leaves nearly a decade of trying to survive without a stable income unless they secure new employment.
As Korea becomes a super-aged society, seniors are becoming an essential part of the labor force. Experts say the task ahead is not only extending working years, but ensuring stable jobs that allow older adults to live with dignity.