Seniors' income, education level on rise: data

SEOUL, Oct. 16 (Yonhap) -- Senior citizens' income and education levels have improved significantly in 2023 from three years earlier, a survey showed Wednesday.

The average personal income of senior households reached 34.69 million won (US$25,440) in 2023, up from 30.27 million won in 2020, according to a survey conducted by the Ministry of Health and Welfare.

The survey, held every three years, was carried out with 10,078 respondents, asking 191 questions.

The proportion of seniors participating in economic activities reached 39 percent, up from 30.9 percent in 2017 and 36.9 percent in 2020.

Among working seniors in 2023, 33 percent were involved in physical labor, followed by 20.3 percent in the agriculture and fisheries sector and 14.4 percent in the service industry.

The research revealed that 7 percent of seniors held a junior college degree or higher, an increase from 5.9 percent in 2020.

Respondents, meanwhile, felt that the term "senior" should refer to individuals aged 71.6 and above, contrasting with the government's current classification of 65.

The survey showed a shift in perception among seniors regarding passing on their wealth to children as well, with 24.2 percent of respondents stating they intend to spend their assets on themselves and their spouses, a significant increase from 9.2 percent in 2008.

The proportion of seniors with smartphones reached 76.6 percent in 2023, up from 56.4 percent three years earlier. However, around 67 percent of respondents said they were facing challenges in adjusting to the digital transition.

colin@yna.co.kr
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