Korea's early retirement trend may spell trouble

[@WhippedForJeonJungkook]

Most people can't afford early retirement, they will have to work past the pension age

[@XxCørpsegirlXx]

Cancel army

[@xxxcool2565]

That's assuming you can find a job in the first place

[@khuantru]

nothing wrong with early volunteering retirement, unless you were able to save and make a lot of money. If not, most of us are still working low income & hours to have food on our table and a roof over our heads. So good luck

[@TaiChiKnees]

If there is no pension plan to pay you into your old age, isn’t “voluntary retirement” the same as “please quit your job” with severance pay?

[@House0fHoot]

It’s definitely more like redundancy than retirement.

[@containedhurricane]

*company efficiency

[@TrinhNguyen-sh4fj]

Even those famous Hollywood stars are coming back out of retirement because they spent all their millions. I have a feeling these people will go back to work after they run out of money.

[@ShelleyM007]

Isn’t that retrenchment by another name?

[@4evertrue830]

You know it, i know it, yet they think we're too stupid not to know that it is retrenchment by another name..smh.

[@claydogg234]

This is a natural reaction in the wake of predatory capitalism.

[@TheDragonofRevelation]

Capitalism itself isn't bad. The way South Korea is run is crony capitalist.

[@brianp5205]

Anything stopping that "retiree" from getting another job elsewhere?

[@lazyxoxo]

Nothing really stops them, but the age-ism poses to be a big barrier here for older job searchers.

[@xxxcool2565]

Its the same in Singapore. Once you are over 35 and don't have very specific, in demand skillset, its almost impossible to find a job. Retrenchment risk jumps up and if you are unlucky you will be "retired"

[@4ce5bf154]

It's the same in Korea, you could probably get rid of half of any company working force on a office and wouldn't make much difference...

[@oceanwave4502]

It looks to me like "lost decades" are gonna come to South Korea soon, given the chaotic politics as well as low fertility rate, coupled with this early retirement trend. 😨

[@TheDragonofRevelation]

The price of getting South Korea out of debt back in the day was to destroy South Korea's future. What a load of sh*t. I hate to say this but East Asia needs to accept that anyone outside of the chebols is basically in poverty and they need to return to subsistence farming like their grandparents did.

[@red_lantern]

Hyper focus on status, looks and monetary achievement combined with a lack of opportunity and favoritism. The 2030s are gonna be fun.

[@solar6120]

What's wrong with early retirement?

[@TabeaSrn]

Companies want employes to retire early. People might not be financial stable to retire early.

[@solar6120]

@TabeaSrn i see 👀

[@House0fHoot]

It’s more like redundancy than retirement.

[@TheDragonofRevelation]

The collapsing birth rates in South Korea are starting to make more sense.

[@KBowWow75]

Nobody wants to work 9 hour work days. That extra hour equates to 10.5 days if your life each year. Cut working hours first is you want to cut costs.

[@4evertrue830]

All lies about free market economics and how the private sector creates lasting efficient, excellent jobs, has now been debunked. Merry Christmas..lol 😂

[@TheDragonofRevelation]

Wrong. Why? Because South Korea was never a free market. The South Korean government basically subsidized major corporations since the pause of the Korean War back in the 1950s. That's not free market capitalism, that's crony capitalism.

[@4evertrue830]

@TheDragonofRevelation It always leads to that eventually bro, especially when every sector of the economy of that country is left in the hands of the private sector and no public state enterprise participation whatsoever. The US is a classic example. It is only surviving on the US dollar hegemony today. When that is gone, the US empire collapses and its no more. The world is free, free at last. 👍🤗❤

[@tesseoul]

What's happening to SK lately? There are so many issues. One is low birth rate. If you want more people you can get ours.😊😊

[@4ce5bf154]

People forgot how to vote, that's that's problem. President after president going to jail...

[@XxCørpsegirlXx]

They need a 4 day work week

[@Johanneslol11]

LG healthcare bought coca cola? XD WTF anyway I hope they will find a good early retirment then. :p I would mind quiting at 40 with like 3 milion won a monht for the rest of my life.

[@wyliem]

36k usd is almost poverty

[@Johanneslol11]

@wyliem not in korea. In jeju island you can comfortly live from 2K won.

[@KBowWow75]

Better hope it adjusts for inflation. That's not much money to begin with.

[@Johanneslol11]

@ they do adjusted it yes.

[@TabeaSrn]

​@@Johanneslol112k won is 1,38 USD 😅

[@DjChronokun]

voluntary early retirement should be good for youth unemployment and marriages, no? surely contradictory "problems" can't both be problems

[@TheDragonofRevelation]

Yeah, imagine you're a young man who has a small severance package and no job all while having no money to pay for a kid, no farm to grow your own food, no money to pay for taxes and expecting a woman to want to marry you as a broke young man with no money. That's not going to happen.

[@buzz5969]

I had the opportunity to draw a retirement pension at age 38, didnt do it untill 44.🇺🇸⚓️🍻✌🏻

[@greatpathy1546]

Racists as garlic