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Over 50 percent of South Korean seniors are engaged in economic activity due to the lack of preparation for old age, with many doing so to earn a living, government data showed Tuesday.
According to the data compiled by Statistics Korea, there were some 13.44 million South Koreans aged between 55 and 79 as of May this year, up 512,000, or 4 percent, from a year ago.
The data showed that 56.7 percent of the total are currently working, up 0.3 percentage point from a year earlier, with their employment rate standing at 55.2 percent, also up 0.2 percentage point over the cited period.
Nearly 64 percent of seniors in this age group hope to engage in economic activity in the future though they don't have jobs at the moment. This number represents a gain of 1.5 percentage points from a year earlier.
The latest data showed that of those still working, 59 percent said they are engage in economic activity to make ends meet, up from 58.3 percent a year ago.
Others said that they are working to earn pocket money, keep in shape, kill time, take advantage of their past experiences, show their ability or make friends, the findings showed. (Yonhap)
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