A recent online survey found that six out of 10 Koreans in their 50s were unhappy.

Samsung Life Retirement Research Center conducted the online survey last month of 1,000 citizens aged between 50 and 59 who live in Seoul and adjacent areas, on their preparation for retirement and life issues. Half of the respondents were working for a company, while the other half were retired. Multiple answers to each question were allowed.

When asked whether or not the respondent was currently happy, 61.5 percent answered negatively. When identifying concerns that put them under pressure, 42.7 percent pointed to continued financial support for their adult children in such areas as college education, job hunting and weddings. It is common in Korea that parents continue to support their grown children until they get married. Concern over their own health and jobs after retirement followed with 39.5 percent and 35.7 percent, respectively.

The survey also found that 91 percent of respondents would prefer to have a company job after their retirement rather than be self-employed. The research center, however, found in another survey that it is difficult for retirees to find a new job in the corporate world, which takes more than a year on average.

Regarding the reason for seeking a new corporate job after retirement, 50.4 percent said they need a regular income source to cover living costs.

“The survey shows Koreans in their 50s, who depend heavily on real estate in their asset portfolio, are not financially prepared for retirement,” the center said in the statement, urging policymakers to develop programs to support those who re-enter the job market after retirement.

In the meantime, Koreans in their 60s are expected to own nearly half of retail investors’ stock holdings in 2025 due to the country’s rapidly aging population, industry data showed Sunday.

Quoting data from the Korea Exchange and Eugene Investment & Securities Co., Yonhap News reported that sexagenarians’ stock holdings are likely to soar to 48 percent of all stock held by retail investors, from 33 percent last year.

The ratio is projected to climb further to 53 percent in 2030, 61 percent in 2040, 65 percent in 2050 and 69 percent in 2060, they said. 

By Seo Jee-yeon  (jyseo@heraldcorp.com)