Income and Education Levels of Senior Citizens Surge: Survey Finds

SEOUL: According to a recent survey by the Ministry of Health and Welfare, the income and education levels among senior citizens have seen notable increases in 2023 compared to data from three years ago. According to Yonhap News Agency, the survey revealed that the average personal income of senior households has escalated to 34.69 million won (US$25,440) in 2023, up from 30.27 million won in 2020. This survey, which is conducted every three years, included responses from 10,078 participants who were asked 191 questions regarding various aspects of their lives. The data also highlighted that the involvement of seniors in economic activities has risen significantly. The proportion of active seniors increased to 39 percent from 36.9 percent in 2020 and 30.9 percent in 2017. Among these economically active seniors, 33 percent were engaged in physical labor, while 20.3 percent worked in the agriculture and fisheries sector, and 14.4 percent were in the service industry. Furthermore, the survey indicated an im provement in education levels among seniors. In 2023, 7 percent of senior respondents held a junior college degree or higher, an increase from 5.9 percent in 2020. The study also noted a shift in the seniors' perception of age and inheritance. The average age seniors identified with being termed as "senior" rose to 71.6, compared to the government's classification of 65. Additionally, there was a marked change in attitudes towards wealth distribution, with 24.2 percent of seniors planning to use their assets for personal and spousal enjoyment, significantly higher than the 9.2 percent reported in 2008. Despite these positive trends, the survey flagged challenges, particularly in the digital domain. While the ownership of smartphones among seniors increased to 76.6 percent from 56.4 percent in 2020, about 67 percent of the respondents expressed difficulties in adapting to the digital transition.