• Journal of the Korean Home Economics Association
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• v.45 no.6
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• pp.61-75
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• 2007

This paper examines the intergenerational time transfers between married women and their co-residing elderly parents, and how they affect married women's labor force participation and work hour. The sample was drawn from the "2004 Time Use Survey" conducted by Korea National Statistical Office and the Heckman's 2-step model was estimated to examine these relationships. We find that women's caregiving time for their elderly parents reduces their likelihood of participating in the labor force. On the contrary, parental time transfers for married women increases the probability of their labor force participation. We find no evidence that the actual hours of paid work is related to the time transfers between married women and their elderly parents. In other words, after married women decide to participate in the labor force, their work hours are not affected by the time spent for parents and time gained from parents to them. Parental income is positively associated with the married women's labor force participation whereas husband's income is negatively related. The married women working in service occupation and earn salaries work longer hours than those employed as laborer and wage workers. Having older parents and owning the second home reduce working hours of married women.

• Journal of Families and Better Life
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• v.29 no.4
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• pp.205-216
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• 2011

Unequal distribution of shares among children during intergenerational transference of assets has been prevalent in Korea. This study intends to examine whether parental contribution, in the form of a cash gift, is differentiated between the bride's side and the bridegroom's side at marriage and by age group. This pattern may also change according to the generation. Questionnaires were equally distributed to members of three previously delineated age groups: 20' s-30' s, 40's -50's, and 60's and above who are married or have been married at least once and reside in Seoul or Gyeonggi province. A total of 700 questionnaires were analyzed using SPSS and the data were sorted by age group. The results indicate an apparent difference between the husband's side and the wife's side in providing funding for housing at marriage in that a large portion of the funding is provided by the husband's side. Among various funding sources, a cash gift from the couple's parents appears to fund the largest portion of the total cost for housing and marriage. Results show that a cash gift from the couple's parents funds a larger portion of housing expenses for younger generations, a phenomenon that becomes more severe and apparent the younger the couple is.

• KDI Journal of Economic Policy
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• v.32 no.1
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• pp.27-49
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• 2010

This paper provides insight into some important features of the intergenerational resource allocation in Korea, before and after the financial crisis in 1997-98. Data sets of three periods before and after the financial crisis (1996, 2000, and 2005) were used to compare the results. This research particularly addresses two related issues: i) the generational effects of economic crisis, and ii) the capacity of age reallocation systems to spread economic risks across generations. The results show tremendous consumption smoothing and resource reallocation by age, during and after the financial crisis. Private education and private health consumption decreased for children between 1996 and 2000. However, the decrease in private education and private health consumption was mitigated by the increase in public consumption. It appears that the public sector did not only mitigate the adverse impact of the economic crisis on consumption, but it also reduced the widening disparity amongst generations. Within transfers, the public transfers for the elderly increased substantially as the private transfers decreased rapidly. Finally, there was a big increase in the asset-based reallocation of the elderly. The increase in asset-based reallocation was mainly due to an increase in asset income between 1996 and 2000, but it was almost entirely due to a decrease in saving (i.e. an increase in dissaving) between 2000 and 2005. This suggests that Korean elderly seemed to have some degree of supporting system during the crisis, even without sufficient pension benefits. The increased reliance on asset accumulation will be critical in the long-run in Korea, as public pension funds diminish due to population aging.

• Journal of Labour Economics
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• v.24 no.1
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• pp.97-124
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• 2001

Co-residence is a type of intergenerational private transfers of resources: money, time and space. Adult daughters and their elderly parents decide to co-reside, depending on their utility levels before and after co-residence that mainly depend on the health status of the elderly. Therefore, co-residence implies positive net benefits to both parties in the sense that, when they co-reside, elderly parents share childcare and adult daughter provide elderly care. In other words, formal (paid) care can be substituted with informal (unpaid) one. Both marriage and giving births are considered as the major obstacles to labor market attachment of women who bear burdens of home production and childcare. Co-residence can be a solution for married women to avoid career interruption by sharing burdens with their elderly parents. However, most previous studies using the U.S. data on intergenerational private transfers focused on elderly care and have concluded that they reduce government expenditures associated with public subsidies to the elderly. This study focuses on adult daughters and it examines effects of co-residence on labor supply of married women in Korea, who face limited formal childcare programs in terms of both quantity and quality. It applies the Tobit model of married women's labor supply to the data from the Second Wave of the Korean Labor and Income Panel Survey( 1999), in order to investigate effects of co-residence and the work and health status of the co-residing elderly as well as their own health status. Four specifications of the empirical model are tested that each includes co-residence with elderly parents, their gender, or their work and health status. Estimation results show that co-residence, co-residence with female elderly, and co-residence with not-working female elderly have significant positive effects on labor supply of married women while poor health status of co-residing female elderly does not bring about any negative effects. However, co-residence with male elderly, regardless of their work and health status, has no significant effect The results indicate that co-residence is closely related to sharing of home production among female elderly and adult daughters who are married and, through intergenerational private transfers of resources in terms of time, it helps women avoid career interruption.

• Journal of Families and Better Life
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• v.29 no.6
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• pp.137-151
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• 2011

This study examines the condition of transfers between mothers and adult children, analyzing the influencing factors in such transfers. Specifically the study examines the influence of financial transfers and economic resources on financial transfers and grandchild caregiving between mothers and adult children. The sample of 3719 mothers with adult children was extracted from the first wave of the Korean Longitudinal Survey of Women and Families. The major findings are as follows. Mothers's socio-demographic characteristics are important factors in explaining financial transfers between mothers and adult children. Mothers who have jobs and spouses are more likely to provide economic resource to their adult children than those who don't have. In terms of receiving economic resources from adult children, statistically meaningful factors are mothers' age, labor market participation, marital status, household income, household asset, and children's labor market participation. Especially, labor market participation of mothers and adult children is statistically powerful factor in financial transfers and caregiving.

• Journal of Agricultural Extension & Community Development
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• v.21 no.4
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• pp.939-965
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• 2014

Farm succession in the next generation has profound implications for the future structure of the agricultural industry and the procurement of agricultural human resources. Therefore, this study sought to suggest the policy directions for farm succession through investigating the foreign policies and comparing it with Korean policies. The followings were derived from the comparison analysis. First, support is required in establishing master plans for farm succession from operators to successors. Second, it is needed to develop and disseminate effective model for farm succession. Third, an assistance policy for farm households without successors should be initiated. Fourth, the fragmentation of farmland ownership should be counteracted.

• KDI Journal of Economic Policy
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• v.11 no.3
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• pp.131-146
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• 1989

본고(本稿)에서는 가계(家計)의 저축행태(貯蓄行態)가 일생적기(一生適期)(life cycle)에 걸쳐 연령(年齡)-자산관계(資産關係)(age-wealth profile)를 통해 어떻게 나타나는가를 이론적으로 그리고 미시적(微視的) 시뮬레이션의 결과로 살펴보았다. 본고(本稿)에서는 기존의 Ando-Modigliani의 모형(模型)에 성인상당수(成人相當數)라는 개념(槪念)을 도입(導入), 무자녀가구(無子女家口)와 유자녀가구(有子女家口) 사이에 자산저축경로(資産著畜經路)의 차이가 존재함을 밝혔다. 즉, 유자녀가구(有子女家口)의 경우, 자녀의 교육비를 지원함으로써-좀 더 정확히 표현하면 또다른 형태의 세대간교부(世代間交付)(intergenerational transfer)라고 할 수 있는 자녀의 인적자산형성(人的資産形成)에 투자함으로써-소비(消費)가 이 시기에 급상승하게 되고 따라서 자산저축(資産著畜)이 무자녀가구(無子女家口)의 경우보다 완만해질 수 있음을 밝혔다.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.4
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• pp.299-307
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• 2020

Inter vivos in the context of wealth and estate planning can be generally defined as a transfer that takes place between the livings. Parents are motivated to transfer for altruisme and exchange. In this context, this study aims to explore another potential motives of inter vivos, which is 'affection'. Data is collected through semi-structured interviews with inter vivos experts who have published articles in this area. The interview is encoded and thematic analysis is carried out to classify themes and subthemes that exist in the inter vivos transfers. This study discovers four main themes, which indicate that inter vivos transfers based on affection can be enlightened by the relationship between parents and children, responsibility for children, types of inter vivos, and effects to other heirs. Relationship between parents and children can be explained as parents transfer their wealth to the closest children, children who care for them and to family members only. Parents also are responsible to protect their children after they die and assist them who are in need. Types of inter vivos are considered as boundless inter vivos and without any material return. Inter vivos based on affection also aims not to abuse other heirs.

• Korea journal of population studies
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• v.33 no.3
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• pp.75-99
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• 2010

This paper aims to examine the causes and features of current generational conflicts in Korea and to discuss their implications. The data utilized in the study include collective data on presidential and general elections and secondary data obtained from empirical research. The findings are as follows. First, generational power conflicts express itself by struggles among generations concerning the timing of political power transfer. An average age of assemblymen decreases consistently regardless of changes in overriding ideological atmosphere in general - conservative vs. liberal. Second, ideological conflicts among generations were highly intensified around 2002 presidential election, but gradually moderated since 2004 general election. The conflicts might be re-intensified if a set of conditions were satisfied. Third, cultural conflicts between older and younger generations were contrasted around three cultual axes: economic growth with top priority vs. consumerism, collectivism vs. individualism, and authoritarianism vs. post-authoritarianism. To ease strained relations between generations, intergenerational programs were suggested.

• Journal of Family Resource Management and Policy Review
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• v.18 no.2
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• pp.143-162
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• 2014

The purpose of this study is to analyze the influences on resource transfers between middle-aged parents and their married children. This study used 2009 data from the National Research Foundation of Korea regarding inter-generational resource transfers and preparation for later life (kfr-2009-c00010). A sample of 1208 households of middle-aged parents with married children was used. The study found that parents provided financial resource transfers to their married children in the following circumstances: where parents received financial resource transfers from their married children, where the household income of parents was high, where the children were younger, and where the children were male. Parents provided instrumental resource transfers to their married children in the following circumstances: where parents received instrumental resource transfers from their married children, where the gender of children was female, where the children were employed, where married children had their own children who were either younger than a preschooler, and where household incomes of married children were high. Parents received financial resource transfers from their married children in these circumstances: where their emotional ties with their children was high, where the household income of the parents was low, where the household income of the married children was high, and where married children had preschoolers. The circumstances in which parents received instrumental resource transfers from their married children were where parents provided instrumental resource transfers and the household incomes of married children were high.