Retired households in South Korea were found to be making only a third of the income earned by economically active population.    

Statistics Korea said on Thursday that the average income of households led by a retiree stood at 18-point-26 million won for the entire year of 2016 or one-point-52 million won monthly. 

It was only 37 percent of an average annual income of 49-point-55 million won for households with economically active members. 

Nearly two thirds of the earnings for retired households was transfer income, which is income provided by the government or their families. 

Retired households also spent an average of one-million-30-thousand won in 2016, half of which was spent on food, housing and medical costs. In contrast, households with working heads spent only 28 percent of their income for such basic needs.