Employees Expect to Retire at 51
Salaried workers in Korea on average believe that they will be put to pasture at the age of 51, according to a survey.
The findings reflect increasing fears of layoffs as more ailing businesses face painful restructuring.
Jobs search portal Job Korea polled 1,405 workers from May 26-31. Among men the average expected retirement age was 51.7, and among women 49.9, averaging 50.9 years. In the same survey in March 2015, the average was a little higher at 52.1.
Workers in state-run companies gave the age of expected retirement at 54.8, while staff of small and mid-sized companies expected to retire at 50.8.
In conglomerates employees expected to retire at a mere 48.8 years of age.
Some 66 percent voiced fears of being laid off, and only 7.8 percent said they are definitely not afraid. Also, 73 percent of the respondents said they thought about switching to public service, which guarantees a job for life.