KRIn South Korea, the number of working individuals aged 55 to 79 has exceeded 10 million for the first time, driven largely by economic necessity. Nearly 70% of this age group express a desire to continue working into their 70s, primarily due to high living costs and insufficient pension income. According to a report by the Ministry of Data and Statistics, the labor force participation rate for this demographic remains steady at 60.9%, with the employment rate at 59.5%. Many older workers rely on pensions averaging around 880,000 won per month, significantly lower than the government's estimated minimum living cost of 1.54 million won for a single person. This highlights ongoing financial challenges faced by retirees.
Bias read (Center): The article presents statistical data and quotes from an official government report without overtly favoring any particular political stance. It focuses on socioeconomic factors influencing employment rates among older adults, which is a matter of public policy rather than partisan politics. There's
