Many Koreans think financial security is more important than health in old age, a survey shows.
The Ministry of Health and Welfare released the findings of its survey of 2,000 adults between November and December last year. The ministry said that 39.3 percent of respondents cited financial security as the most important thing for their twilight years, compared to 38 percent who cited health.
Asked how they prepare their retirement savings, 65 percent said they use financial products such as savings, insurance and stocks, followed by public and company pension schemes (61 percent), personal pension (34 percent) and real estate (20 percent).
Some 54 percent think they could find a job after retiring if necessary, while 23 percent said it would not be possible.
The survey found that people would be willing to work until the age of 72.9 years if they remain healthy. But the average age cited as appropriate for retirement was 64.1 years.
Respondents were allowed to give multiple answers.