New data show that Koreans in their 50s to 60s are worried about job instability and post-retirement life.

A report compiled by the Hyundai Economic Research Institute says that the happiness index for those in the age group stood at 36.4 and 35.7 respectively out of 100 last year, lower than the average of 41.

The institute blamed the dismal rating on financial concerns and advocated for pensions and a salary peak system to guarantee employment after the official retirement age in exchange for a reduced salary.