• The Journal of the Korea Contents Association
• /
• v.17 no.9
• /
• pp.396-405
• /
• 2017

Main purpose of this study is to analyze determinants of household debt among middle and old individuals aged between 32 and 76 that include Korean baby-boomers(born between 1955 and 1963), using a HAPC (Hierarchical Age-Period-Cohort) model and Korean Welfare Panel Study 2006-2016. This study includes 86,056 individuals. Research findings indicate that aging and period effects have statistically significant relationships with household debt levels, however, cohort effects including a baby-boomer generation do not. While household debt increases by 3,530,000 Korean won as age increases by one year, the rate of increase in household debt reduces as individual ages. In addition, employment and health status at the individual level have significant effects on household debt levels. The unemployed are more likely than the employed to have high household debt levels while unhealthy people tend than healthy people to have high household debt levels.

• Journal of Digital Convergence
• /
• v.19 no.5
• /
• pp.117-126
• /
• 2021

This study analyzed the factors influencing baby boomers' reemployment intentions. The extended Theory of Planned Behavior(TPB) as a research model used in this study. The extended TPB added outcome expectations and economic preparation as independent variables. Personal characteristics were set as a moderating variable and reemployment intention was set as a dependent variable. Based on the questionnaire survey of 250 baby boomers for the established research model, an empirical test was conducted through regression analysis. The results of empirical testing are as follows. Attitude, perceived behavioral control, and outcome expectations had a significant positive (+) effect on the baby boomer's reemployment intention. On the other hand, economic preparation had a significant negative (-) effect. Social norms have not been tested for significant influence relationships. Among the significant variables, economic preparation was found to have the greatest influence. The results of moderating effect of personal characteristics, both agreeableness and conscientiousness were found to play a role in moderating between attitudes and reemployment intention, between outcome expectations and reemployment intention. Based on these research results, academic and practical implications for the baby boomer's reemployment were presented.

• Journal of the Korea Fashion and Costume Design Association
• /
• v.14 no.3
• /
• pp.135-146
• /
• 2012

This study aims to analyze the preference of jacket design, practical factors regarding jacket-wearing and purchasing behavior for korean baby- boom generation women. The results are as follows: 1. According to the outfit preference survey, the silhouette most preferred by female baby boomers is the "X-line Silhouette", "hip length", "slightly fitted and well fitted". The preferred jacket colors for different seasons were grey and beige for spring, white and light yellow for summer, khaki and brown for fall and black and dark grey for winter. 2. According to the survey on factors to consider when purchasing jackets, 52% indicated that they "almost never" or "occasionally" had their jackets repaired after purchasing them. When purchasing jackets, the highest expected effect of looking younger by wearing a jacket was "looking 4-5 years younger". 3. According to the survey on price demands, the average purchase price for jackets was 160,000~200,000 won (27.80%) followed by 210,000~350,000 won (25.64%) and a significant difference existed based on the purchasers' economic activities.

• 한국노년학
• /
• v.31 no.4
• /
• pp.855-870
• /
• 2011

This paper investigates the effect of retirement-related subjective expectations on the capital accumulation of the Korean baby-boom generation. Using the 1st, 2nd waves of the KLoSA (2006, 2008), we estimate the distributional effects with quantile regression. In addition, the endogeneity of the expectation variables is handled using the fixed effect model. The quantile regression results reveal that the schooling, gender and the number of children are important determinants, but their effects are heterogenous across quantiles to a significant margin. The expectations of the stronger bequest motives and longer lifespan turned out to lead to more capital accumulation. The expectation regarding the expanded role of government retirement support seemed to crowd out private savings for the baby boomers with the total assets over 0.7 percentile.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.1
• /
• pp.285-301
• /
• 2020

Looking at the problem of aging in the nation from a demographic perspective, it is not a problem of the overall population, but of the structure of the population. It is the baby boomer and post-baby boomers, the largest population in the country. Baby boomers were born between 1955 and 1963, and currently have a population of 7001,333, which is 13.6 percent (as of 2015). The Post-Baby Boomer generation was born between 1964 and 1974, with a total population of 9,567,171, accounting for 18.8 percent of the total population. In particular, baby boomers and post-baby boomers (32.4% of the total population) have begun to retire or will retire soon. The average life expectancy continues to increase due to the development of medical technology, and the falling birth rate of newborns and the declining population of the production population are darkening the domestic economy. In a policy proposal aimed at easing the nation's falling economic growth rate, women's participation rate is as high as Sweden and men's efforts to increase it as high as Japan's, while the elderly rate is desirable to maintain Korea's high level. This is because the expansion of the elderly generation's participation in economic activities could ease a sharp drop in economic growth and reduce the burden of supporting the elderly population. The study, based on this social problem awareness and problem solving plan, looks at the relationship between career orientation and satisfaction in start-up education based on the diverse career base of active seniors, and also suggests the importance of customized start-up education on the diversity of active seniors by clarifying the relationship between them, and suggests the desirable direction of senior start-up policy design, funding, and start-up education. Based on the theoretical background, the concept of five factors was defined: active senior, career-oriented, satisfaction level of start-up education, willingness to start a business, and the concept definition of an active senior, which is particularly key to the baby boomers in their 50s and 60s, is generally regarded as a source of consumption or welfare benefits, but in this study, the concept of active start-up is reflected in the domestic start-up market by young people in their 40s, 50s and 60s. As a result of a hypothesis test. Hypothesis 1 and Hypothesis 5: Career orientation has been verified to affect the willingness to start a business and the behavior of preparation for a start-up. Hypothesis 3: The willingness to start a business has been verified as having an effect between startup preparation actions. Hypothesis 4: The satisfaction level of start-up education has been verified to affect start-up preparation behavior. However, hypothesis 2: The satisfaction level of education for start-ups does not affect the willingness to start a business. Such results can be inferred that satisfaction in start-up education does not have a direct effect on the will to start a business and increases the will to start a business through the influence of personal career orientation.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.14 no.2
• /
• pp.655-664
• /
• 2013

This study aims to identify forecasting factors of baby boomer's social participation desire. For this purpose, I utilized Hyun-Jung Kang(2012)'s data whose 1,115 sample were collected based on residential area and gender. The major findings are as follows; First, 77.7% of baby boomers are actually participating in economic activities. 27.0% in volunteering activities and 79.3% in leisure activities. 80.9% of baby boomers have intention to participate in economic activities after retirement, 76.7% in volunteering activities after retirement and 82.2% in leisure activities after retirement. Second, looking at the relationship between current social activity participation and intention to participate after retirement, those who are currently having social activities turn out to have higher intention to participate social activities after retirement. Those who wish to participate in social activities, although they don't participate in social activities currently, turn out to be 55.8% for economic activities, 70.6% for volunteering activities and 66.5% for leisure activities. Third, whether they are currently participating in social activities turns out to be most compelling forecasting factor for the desire on social participation after retirement. These results were discussed in terms of the continuity theory. and proposed that you need from the preparation of Middle - aged to activate the participation of important social variables known as old age life satisfaction.

• Journal of Family Resource Management and Policy Review
• /
• v.20 no.4
• /
• pp.1-17
• /
• 2016

The purpose of this study was to investigate the effect of family characteristics of the baby boomer generation on the level of their later life preparation. This study randomly sampled a birth cohort between 1955 and 1963 consisting of participants living in Seoul, South Korea with a spouse and a child/children. This study investigated a total of 455 subjects from March 2 to March 20, 2016. The study findings are summarized as follows. This study analyzed the characteristics of baby boomers' family relationships and their effects on their later life preparation. It was found that 55.4% of the subjects had at least 2 children, and 44.6% had 1 child. Concerning their children's marital status, 33.8% had married children and 66.2% had unmarried children. The level of their children's support was found at 2.82 points (standard deviation [SD] = .64), which is slightly higher than the mean value of 2.5. The spouse satisfaction among the subjects was found to be 3.59 (.79) which is higher than the mean value of 3. The general status of later life preparation was 2.70 (SD = .44), which is lower than the mean value of 3. In the sub-dimension, the level of social preparation was 2.98 points (SD = .61); the level of economic preparation was 2.60 (SD = .64); and the level of physical preparation was 2.53 (SD = .45). All the values were lower than the mean value of 3. The overall status of later life preparation of the subjects in this study was low. The physical preparation level was particularly low. To analyze the factors that affect baby boomers' later life preparation, a hierarchical regression analysis was implemented. As a result, a significant effect was found in specific factors, such as spouse satisfaction (${\beta}$ = .32, p < .001), age (${\beta}$ = .26, p < .001), number of children (${\beta}$ = -.18, p <.001), health status (${\beta}$ = .18, p < .001), gender (${\beta}$ = -.11, p < .05), household income (${\beta}$ = .10, p < .05), and children's marital status (${\beta}$ = .10, p < .05). That is, the higher the spousal satisfaction, the older the age, and the lower the number of children, the higher the levels of later life preparation. Further, a higher level of later life preparation was observed in women, those with higher household incomes, and those with married children.

• Journal of Family Resource Management and Policy Review
• /
• v.27 no.1
• /
• pp.1-12
• /
• 2023

This study forecasts the outlook 10 years from now regarding domestic labor and caregiving by the Baby Boomer generation and the preparations needed in the context of the Fourth Industrial Revolution. The scenario-planning method was used to explore changing trends in domestic labor and caregiving, the rationale for which has been questioned by both seniors and family welfare experts. Based on the results of the survey and our researchers' opinions, it was concluded that the changing trends were caused by two factors: the probability of alterations in domestic labor and the strength of family relationships. On the basis of these conclusions, four scenarios regarding baby boomers' domestic labor and caregiving in 10 years were proposed using two axes: the "high and low probability of alterations" and the "strengthening and weakening of family relationships." The first scenario is a "preference for the self-caring form of family," which has a high probability of domestic labor alterations and weak family relationships. The second scenario is a "preference for the flexible form of family," which has a high probability of domestic labor alterations and strong family relationships. The third scenario is a "preference for the traditional form of family," which has a low probability of domestic labor alterations and strong family relationships. The fourth scenario is a "preference for the public caregiving form of family," which has a low probability of domestic labor alterations and weak family relationships. These results provide basic information about the various aspects of baby boomers' lives-including the development of various goods and services, the establishment of policies regarding seniors, and programs for successful aging-and can help equip our society to take the actions needed for a super-aged population.

• The Journal of the Korea Contents Association
• /
• v.19 no.1
• /
• pp.205-222
• /
• 2019

In this study, we explored the relationship between experienced discrimination and volunteering activities among the $2^{nd}$ baby boom generation. Specifically, applying structural equation modeling, we examined how the effect of experienced discrimination on volunteering among the $2^{nd}$ baby boom generation is mediated by the negative perception of equal opportunity and achievement by personal merit. Data were obtained from the 2016 National Survey on Unequal Opportunity from the Circle Foundation. The research sample was comprised of 474 baby boomers ages 42 to 48 at the time of survey. Results indicated that perceived discrimination affects the level of volunteering among the $2^{nd}$ baby boom generation, through the negative perception of equal opportunity and achievement by personal merit. Based on the findings, we presented policy implications that could promote volunteering activities among the $2^{nd}$ baby boom generation.

• The Korean Journal of Community Living Science
• /
• v.22 no.4
• /
• pp.705-717
• /
• 2011

This research was based on surveys about differences of perception on retirement among the babe-boomers. Middle-aged men and women in their 40s' and 50s' residing in metropolitan areas centering around Seoul were the main targets for the surveys. Results indicated meaningful differences between men and women in the level of percection and expectation about their retirement. More specifically, men noted physical health, economic sufficiency and work as significant factors for happy retirement. Women, on the other hand, answered economic sufficiency first, and then physical health and relationship with spouse as the important variables for retirement. In addition, men and women portrayed different expectations for difficulties of retirement. Based on the survey results, this research proposed possible national, social, corporate, and individual approaches for secure retirement of the middle-aged baby-boom generation.