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46% of S. Koreans 50 and Older Economically Active

Write: 2019-05-17 16:12:07Update: 2019-05-17 17:22:27

46% of S. Koreans 50 and Older Economically Active

Photo : KBS News

New data show nearly half of South Koreans in their 50s and older are economically active but living in relatively poor economic conditions.

According to a report by the National Pension Research Institute, 46-point-six percent of those aged 50 and above are currently engaged in economic activity.

By gender, the percentage for men is higher at 62-point-one percent compared to 35-point-eight percent for women.

The average age of an economically actively middle-aged or senior citizen was 62-point-five years.

The report analyzed statistics from a government survey on the public's post-retirement security and focused on economic conditions for older Koreans and their preparations for later life.

The findings showed those on the younger end and those with higher educational backgrounds were more economically active.

By age, nearly 74 percent of men in their 50s were still part of the labor force while 13-point-four percent of men over 80 said they had income.

Nearly 60 percent of those older than 50 who had attended university or had more advanced education were economically active. In contrast, the labor participation rate for those without formal education stood at about 23 percent.

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