Korean Talks
Image default
Finanace

More older Koreans cover own living costs as support from children declines

Kim, 70, who lives in Seoul’s Gwanak District, works as an attendant on a kindergarten bus, helping children board and get off safely. The pay is modest, but it helps cover everyday expenses and gives her some spending money. “My son occasionally gives me money, but not regularly,” Kim said. “I don’t want to burden my son and his wife by asking them to cover my living expenses every month. As long as I stay healthy, I want to keep working, even if I earn only a small amount.” An increasing number of older Koreans, like Kim, are covering their own living expenses rather than relying on support from their children. Figures released Thursday by the Ministry of Data and Statistics showed that 74.7 percent of people aged 65 and older covered their living expenses themselves or through their spouses in 2024. That was an increase of 16.2 percentage points over a decade. By contrast, the proportion relying on support from children or relatives dropped to 13.1 percent, down 15.5 percentage points over the same period. The share of older people who want to work has also grown. This year

Related posts

Gov’t to overhaul state decorations system, target awardees linked to state violence

Claire R. Peck

KGM secures $75 mil. strategic investment from China’s Chery

Claire R. Peck

Fantasy writer Lee Young-do falls short of French literary award

Claire R. Peck