• Korean Journal of Social Welfare Studies
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• v.44 no.3
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• pp.85-112
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• 2013

This study aims to understand the developmental trajectories of life satisfaction among retirees and to examine what factors differentiate different trajectory classes. This study used three waves of longitudinal data from Korean Retirement and Income Study and data collected every two years(2005, 2007, and 2009). Subjects were respondents aged 50-69 who identified to be retired between wave 1 and wave 2. Finally, this study used 243 respondents for final data analysis. Life satisfaction was measured by seven items. The latent class growth model and multiple logistic regression model were used for data analysis. This study identified three distinct trajectory classes: high stable class(47.7%), high at the early stage but decreased class(42.8%), and low at the early stage and then decreased class(9.5%). This study founded that approximately 50% of the retirees experienced the decline of life satisfaction after retirement and about 10% of the sample was the most vulnerable group. This study analyzed what factors make different among the distinct trajectory groups. As a results, retirees who experienced the improvement in health change were more likely to be in 'high stable class' compared to 'hight at the early stage but decreased class'. In addition, retirees who were less educated, maintained the same health status rather than the improvement, worked as a temporary or a day laborer, and had less household income were more likely to belong to 'low at the early stage and then decreased class' relative to 'high stable class'. This study suggests that there are distinct three trajectories on life satisfaction among the retirees and finds out factors differentiating between trajectory groups. Based on these findings, the study discusses the implications for social work practice and further study.

• Journal of the Korea society of information convergence
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• v.5 no.2
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• pp.49-58
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• 2012

Korea has entered into an aging society at an exceptionally high speed. Increasing aged workers give pressure on Korean companies with seniority based pay system with labor costs. The wage peak system has been introduced to Korean companies as an alternative to early retirements. The wage peak system currently adopted in Korea is mainly the aging-limit-security model. But in the future we should actively adopt the employment-extension model. To operate wage peak system successfully, I suggest introduction of the individual wage peak system, development of suitable jobs for the aged, selective application by job classification, incentive graded by performance evaluation, and working hour reduction with the decreased rate of wage.

• The Journal of the Korea Contents Association
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• v.16 no.2
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• pp.231-242
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• 2016

This study analyses labor transition of middle-aged and elderly in Korea utilizing Korean Longitudinal Study of Ageing(KLoSA). Then it estimates the effects of perceived job stability for the middle-aged and elderly on poverty exit based on the age group simulation. The outcomes suggest that mid-50s and over are highly vulnerable to early retirement and they suffer from unstable employment and low possibility of re-employment. The logit analysis that simulates the effects of perceived job stability on poverty exit shows that mid-50s are more likely to get off the poverty than 65 and over when they have stable jobs. These implies that labor market policies should be designed in a tailor-made manner in consideration of the age group and its characteristics. This study also suggests the introduction of progressive labor policy measures that extends retirement age, that provides with job opportunities to middle-age and elderly, and that links employment and welfare under the umbrella of income security plan for the middle-aged and elderly.

• Journal of National Security and Military Science
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• s.9
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• pp.283-311
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• 2011

The Republic of Korea, ranked as the 5th military power according to the size of its ground troops, discharges more than 200,000 manpower to the society annually; more than 13,000 of them are officers. The re-employment rate of discharged military personnels, who experience early retirement of 5 to 15 years compared to general public officers, is very low, only amounting to 53.2%. On the other hand, major developed countries exhibit great national scale of effort to take responsibility in helping the settlement of the soldiers who have dedicated their career for their countries. The re-employment rate amounts to 94%. Fully acknowledging such disparity, this paper examines various policies on discharged members support of developed countries, and aims to suggest developmental model on employment support designed for discharged members in the Republic of Korea.

• Journal of Distribution Science
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• v.13 no.11
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• pp.69-77
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• 2015

Purpose - Economic status at an early stage of life after one's retirement is often determined by the long-term sacrifice of one's earlier consumption tendencies. In general, the first and foremost way to secure income after retirement is through annuity savings. People sign up for personal annuity savings in order to guarantee a stable economic life upon retirement, and such actions may be heavily influenced by self-efficacy. Confidence in current economic activity is a source of rational decision-making. Inability to achieve self-control can lead to reckless spending and the eventual hindering of proper investment for the future. This paper examines how self-efficacy and self-control affect the intention and action of enrolling in an annuity savings plan in relation to one's level of financial literacy. Research design, data, and methodology - To analyze the proposed model, this study investigates financial consumers over the age of 20. The data were collected from 511 respondents and analyzed with SPSS 21.0 and AMOS 21.0. First, for the one-dimensional test and to measure the convergent validity of each structure, we use the scale purification process. The results of the test and the confirmatory factor analysis ensure the focus of the validity of the single dimension for each structure. In addition, the validity of the measurement was guaranteed from the results of correlation analysis. Results - First, self-efficacy and self-control have positive effects on the purchasing intention of the personal annuity savings plan. Second, purchasing intention positively affects purchasing behavior. Lastly, self-control has a positive effect on purchasing intention among the low financial literacy group, whereas self-efficacy does not have this effect in the high financial literacy one. Conclusions - The time of product benefit is different with age. The younger group would be granted the savings after several decades once they enroll, whereas the older group would wait for a relatively shorter period of time. Therefore, further research should be conducted in order to verify such a difference. However, this study has value through its confirmation that the roles of self-efficacy and self-control play a part in leading to the enrollment in annuity savings plans and by verifying different effects based on levels of financial literacy. Such results suggest a number of implications in a real life setting. First, banks need to put greater emphasis on the stability of annuity savings in general. Second, customers with relatively low levels of financial literacy are able to control their finances through annuity savings, but find self-efficacy difficult due to a lack of financial understanding. Therefore, such customers should be approached from an invest-effectiveness comparison method. Third, customers with high financial literacy tend to put more value in rational economic decision-making and behavior than in self-efficacy. Therefore, such customers should be approached by promoting the reliability of annuity savings and the excellence of the specific bank's annuity savings plan in comparison to those of other financial institutions.

• Journal of the Korean Operations Research and Management Science Society
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• v.42 no.1
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• pp.29-41
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• 2017

Korea is expected to become a super-aged society by 2050. Given an aging population and the increasing pressure for the early retirement, a sufficient social safety net for elderly population becomes important. The Korean government introduced public reverse mortgage program in 2007, which is a product for aging seniors and the elderly, The number of reverse mortgage subscribers has also steadily grown. The demand continues to grow, but the reverse mortgage over a long period of time is a highly uncertain and risky product in the position of guarantee or lending institution. Thus, suitable demand prediction of the reverse mortgage subscribers is necessary for stable and sustainable operation. This study uses a Bass diffusion model to forecast the long-term demand for reverse mortgage and provides insight into reverse mortgage by forecasting demand for stability and substantiality of the loan product. We represent the projections of new subscribers on the basis of the data obtained from Korea Housing Finance Corporation. Results show that potential market size of Korean reverse mortgage reaches approximately 760,000-1,160,000 households by 2020. We validate the results by comparing the estimate of the cumulative number of subscribers with that found in literature.

• The Korean Journal of Community Living Science
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• v.24 no.1
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• pp.119-132
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• 2013

This study aims to understand potential gender differences in the association between job characteristics and job satisfaction among older workers. The data are from 506 males and 202 females older than 55 from the first wave of the Korean Longitudinal Study of Ageing(KLoSA). Analyses focused on examining gender differences in the influences of subjective evaluation of work characteristics measured with education and skill fits of the work, work demands, customary early retirement, as well as more objective job conditions assessed with insurances by the employer, work hours, and salary on job satisfaction. Regression analyses revealed that female workers showed higher job satisfaction while job characteristics worked differently between genders to affect job satisfaction. For males, fitting the job with education and job demands were determining factors of job satisfaction, while the job with skills and work hours appeared to be significant factors for females. Results suggest that opportunities to utilize older workers' human capital and flexible working hours, especially for females workers would be helpful in promoting older adults' employment and satisfaction about their work.

• Korean Journal of Psychosomatic Medicine
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• v.5 no.1
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• pp.129-134
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• 1997

The meddle years start when persons achieve maturity and end when they realize they are old, and we commonly call ages between thirty-live and sixty five the middle years. Thinking of life as a play, the middle years lead up to and away from the climax of the plot. In the early part of middle age, the man is the main support of his family, and is out to establish himself in his career. He is in a race toward success, and may acquire a sponsor who picks him out as a protege. In the middle part of middle age, the man is ready to come into his own and may break with his sponsor. Most persons are now at the height of their potential, know their areas of competence, and have the satisfaction of feeling in control in them. They need no longer prove themselves from day to day, for they are credited with past accomplishments. Some are caught in "promotion or success depression", and some continue to change jobs creating difficulties is readjustment. The more satisfactory changes usually occur within a career rather than through shifiting careers. In e later part of the middle age the man worries about his physical health, and experiences depression in facing the retirement. Woman frequently change the course of their lives some time between the ages of thirty-five and forty, and may resume their education or careers. Tee quarters of women are passing through "involutional melancholia".

• Journal of the Korean Institute of Landscape Architecture
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• v.23 no.1
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• pp.157-173
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• 1995

Seowons were first established during the Koryo Dynasty and contain primate shrines for the service of ancestors and ancient sages. Seowons were located in a scenic or rural place some distance from a residential area. The direct motive for building the Seowon came from the need for transcendental concealment and evasive retirement which developed as a result of oppression of scholars The indirect motivations were the development of loaming in an idyllic natural settings and the creation of a beautiful natural environment. he purpose of tai study is to investigate the characteristics and transformation process of the location of Seowon in the Chosen dynasty. The results of this research are summarized as fellows : 1. Seowons were in hilly areas with good geographical features including a nice view of the mountains and waters. Beowons were also built on the relation place of an ancient sage and of destroyed Buddist temples. 2. The location patterns of seowon in the Choson dynasty underwent three stages with the change of time Political and social phenomena influenced the transformation of the location patterns Research in this area is at an early stage. The present study was confined to an examination of 7he characteristics and transformation process of the location of seowons. However, it is hoped that this study will offer meaningful guide for further research.

• Journal of Wellbeing Management and Applied Psychology
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• v.1 no.1
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• pp.21-26
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• 2018

Modern society has become an aging society, and the National Statistics Office(NSO) expects that Korea will be also an aging society by 2019, that is, people over the age of 65 will account for 14 percent from the total population. In addition, the increase of labor flexibility is also one of the dramatic features in modern society. However, this social shift have unpredictable results, that is, the advent and increase of grandparent and grandchildren family. Modern medical technology has given Koreans longer expectancies, and structural and economic changes in society have brought early retirement. One of the main reasons that grandparent and grandchildren family increase is below an average of two children per family. There are various services available such as Health support center, Dream start center, Youth support center, Community child center, and Community welfare center. Besides, schools operates various programs for grandparent and grandchildren family with social workers and school counselors. But, most of all, what is necessary is a change of perspective on them. Basically, we need to develop a clear perspective on grandparent and grandchildren family as a not dismantling family type but alternative family type with creating a separate program or service