60% of Koreans Want to Retire Abroad

  • By Choi Jong-seok

    December 12, 2018 13:10

    Sixty percent of Koreans want to retire abroad if they can, with the most popular destination being Australia, a straw poll by Prudential Life Insurance said Tuesday.

    Surveying 500 adults in Seoul and five other big cities, the poll found that 60.4 percent want to spend the autumn of their lives overseas.

    More men (64.1 percent) than women (57 percent) want to live abroad. The desire was especially strong among younger people, with 68.8 percent of 30-somethings.

    Australia was the most popular choice with 16.8 percent, followed by Canada (14.4 percent), Hawaii and Guam (11.8 percent), New Zealand (8.8 percent) and Switzerland (8.4 percent).

    Among the reasons for their choice, weather and natural environment were the most cited with 49.2 percent, followed by a more leisurely pace of life (41.4 percent), culture and lifestyle (32.8 percent), and medical and welfare provisions (20.8 percent).

    Their biggest fear about living abroad was communication and language problems with 49 percent. Asked how much money they would need per month to live overseas, 26.8 percent of the respondents said W3-4 million and 26.4 percent estimated W2-3 million.

    Yet 39.4 percent admitted that their preparations for retirement are insufficient. On a scale of 1-10, the average score was just 4.7, indicating pinched times ahead.

    The average age respondents expected to retire at was 65.2.

    • Copyright © Chosunilbo & Chosun.com
    Previous Next
    All Headlines Back to Top