Most Senior Citizens Earn Their Own Living
More than half of senior citizens now earn their own living rather than being supported by their children.
The proportion of senior citizens who earn their own living rose from 46.6 percent in 2008 to 52.6 percent in 2016.
Statistics Korea said Sunday a growing number of elderly people are returning to the workforce to make ends meet. But they do not earn much. Their average monthly income is just W668,000 a month, half of the W1.16 million those in their 50s make (US$1=W1,090).
As of 2013, 49.6 percent of people over 66 earned incomes that were less than half the median income in Korea, four times higher than the OECD average of 12.6 percent.