• The Journal of Industrial Distribution & Business
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• v.10 no.12
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• pp.25-34
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• 2019

Purpose - In this study, we would like to analyze how the general characteristics of retired senior citizens affect directly the satisfaction of retirees' lives. As the life cycle continues to grow longer, post-retirement environment is recognized as important, and this study is conducted to analysis the factors that concerns which parts influence future retirement life. Research design, data, and methodology - First, Pearson's correlation analysis was conducted to analyze the correlation between the satisfaction of retirement life and the characteristics of the elderly. Secondly, a one-way analysis of variance was conducted to find out the difference in the satisfaction level of post-retirement life depending on the characteristics of the elderly. Results - First, the demographic factors for the satisfaction of retirement life have shown a definite difference. Second, the family factors for the satisfaction of retirement life have shown a clear difference. Third, financial factors for the satisfaction of retirement life have shown a clear difference. Conclusions - Early retirement, especially in major jobs, is the basis for incomplete retirement preparation, which is a factor in unstable later life. If a prospective retiree can retire in a predictable retirement age, it would be sufficient to prepare for retirement in various areas, or to prepare for further directions.

• Journal of Families and Better Life
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• v.30 no.2
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• pp.137-152
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• 2012

The graying of populations is emerging as an international issue around the world, and this is a problem that is rapidly advancing in Korea as well, signaling the need for financial preparations for the aged. For this purpose, various retirement pension systems are being employed as preparatory measures for the nation's elderly. Using data from 1474 people in the 2007 panel study of National Security for the Retired, the present work attempts to look at satisfaction rates with regard to public pension receipts for the national pension and special occupational pensions according to general characteristics and factors related to the preparation for an aging society. Satisfaction with retirement pension receipts according to the type of pension was high for special occupation retirement pensions, individual retirement pensions and the national retirement pension, in that order. Looking at satisfaction rates based on the general characteristics of pension recipients, the study revealed that for the national pension, satisfaction was highest for groups with above-average physical and psychological health, groups who think appropriate living expenses for the elderly are lower, groups in which a partner also earns income, and groups who had amply prepared for their expected living expenses in later life. Regarding special occupation retirement pensions, satisfaction was high for groups over the age of 70, groups with good psychological health, and groups sufficiently prepared for their living expenses in later expenses, compared to groups for which these factors did not apply. In terms of the relative influences impacting retirement pension recipient satisfaction, satisfaction with the national pension was highest when the primary source to cover elderly living expenses was a resource other than income earned by the recipient and their partner and/or income received from children. Concerning special occupation retirement pensions, satisfaction was highest among those whose education terminated before middle school, and for those in good physical health. Based on the above results, it is vital that plans exist for preparing sufficiently for the living expenses of the elderly and for facilitating the physical and psychological health of pension recipients. Plans are also necessary to, ensure that citizens are provided with easily accessible educational programs and activities regarding general installment savings and deposits, stocks and bonds, real estate investments, individual retirement pensions, private insurance, severance pay pensions, and public pensions.

• The Journal of the Korea Contents Association
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• v.8 no.5
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• pp.287-299
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• 2008

The purpose of this study is to analyze the statistical data to get the government to have positive recognition of education for middle-aged and aged people about provision for old age after retirement and present a model of policy direction of realistic elderly education for middle-aged and aged people and an ideal program for middle-aged and aged people in Korea. Such an empirical research obtained the following results. First, as for effects of recognition of the need of elderly education and the desire to participate in elderly education on provision for retirement, the need of elderly education and the desire to participate in elderly education were found to have effects. Second, as for effects of the level of retirement expectation on provision for retirement, new departure, career completion, and continuous expectation were found to have effects. Third, as for mediating effects of retirement expectation in terms of effects of recognition of the need of elderly education and the level of desire for participation, the need of elderly education has retirement expectation partly affect physical, psychological, and economic preparation. As for the desire to participate in elderly education, expectation of retirement had completely mediating effects on physical preparation and partly mediating effects on psychological and economic preparation. Fourth, the need of elderly education, the desire for participation, retirement expectation, and recognition of provision for retirement by general properties were found to have statistically significant results in terms of gender, age, occupation, and educational background.

• The Journal of the Korea Contents Association
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• v.19 no.1
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• pp.174-186
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• 2019

This study was designed to examine the demographic, economic and organizational characteristics of wage peak workers in public enterprises and their relationship between wage peak system and retirement, which is faster than other areas where the number of elderly workers is growing. The study targets 211 wage peak workers in 19 public enterprises engaged in the wage peak system, considering the level of aging and the size of wage peak workers. According to the demographic and economic characteristics, the results of the study showed that the education level, household income, post retirement cost, retirement saving and investment amount had an effect on wage peak satisfaction, wage peak acceptance, retirement preparation and retirement attitude. Next, aspects of organizational characteristics, there were differences according to position, job title, working period, remaining retirement age, participation in retirement preparation program and wage peak application. Based on these findings, effective wage peak system for the aged society was required to discuss the need for follow-up research by job group, position rank, economic level, and educational level of aged people such as welfare, education and former support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.167-187
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• 2020

Currently, Korea is changing into an ultra-aging society, and office workers retire at the age of 49.5 on average from their main jobs, and the national pension is delayed from 62 years old to 65 years old by 2034, so research is needed to prepare for the aging of office workers after retirement. The purpose of this study is to examine the factors affecting the intention to start a business after retirement and the mediating effect of another sense of success expectation on life after retirement, targeting office workers nationwide. Changes in individual attitudes and systematic institutional support are needed to prepare for a sustainable job until the age of 100 after retirement, that is, a start-up utilizing wisdom and experience in work life. As a result of the study, the ability to perform the goal as job performance, economic preparation for retirement preparation, preparation for external relations, and future anxiety have a positive effect on the entrepreneurial will, and the ability to use new technologies as job performance, and physical preparation for retirement. Preparation and preparation for internal relations were found to have no effect. In the influencing relationship between preparation for external relations and the will of start-up, and future anxiety and will of start-up, another sense of success was confirmed to have a partial mediation effect. In the relationship between economic preparation and willingness to start a business, the effect of complete mediation was confirmed. In order to increase the will to start a business after retirement, it was confirmed that another sense of expectation for success was an important variable. Introducing a government-sponsored education system in the company to reduce the government's financial burden due to super-aging and achieve corporate growth through employee training while potential founders, office workers, are employed, and entrepreneurship and goals for the three life goals of office workers By introducing a performance improvement program, we were able to get implications that would be a solution to the growth of individuals and businesses and reducing the government's financial burden.

• The Korean Journal of Community Living Science
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• v.22 no.2
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• pp.267-282
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• 2011

This study investigated Korean and Chinese female college students' retirement attitudes. Considering the fact that the two countries are experiencing dramatic increases in elderly population, retirement planning is a significant social issue. Even though Korea and China share similar cultural backgrounds, economic systems and governmental retirement policies have been developed in different ways. The purpose of this research was to compare retirement attitudes and related factors between Korean and Chinese female college students. Based on a survey with 214 female college students (130 Koreans and 84 Chinese), differences and similarities in retirement attitudes and related factors were identified. On average, Chinese female college students showed more positive attitudes towards retirement than Korean students. The levels of thinking about retirement and worrying about finances in retirement were greater for Korean students than Chinese students. More Korean students anticipated that their actual retirement age will be earlier than their desired retirement age. Korean students believed that they should start retirement planning at an earlier age than Chinese students' retirement planning age. Korean students anticipated that the cost for food and housing as the major expenditure category in retirement while Chinese students anticipated cost for health care as the major expenditure category. Korean students who worry about finances in retirement, and those who anticipated that they will retire earlier than their desired age showed negative retirement attitudes when controlling other factors. Implications for retirement planning and education were presented based on the research findings.

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

• The Journal of the Korea Contents Association
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• v.11 no.11
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• pp.296-312
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• 2011

Korea has been suffering from financial hardship with low birth rate and rapid growing of advanced aged people because low economic growth and low interest rate have continued after IMF foreign-exchange crisis. Under these circumstances, it is necessary for the middle-aged people to have well-prepared retirement plan in the sense of physical, psychological, social and economical preparedness. The study intends to find out how the occupation and activity characteristics affect the physical, psychological, social and economical preparation for their remaining old age. For the purpose, questionnaires were collected from 344 middle-aged people working in private companies, public offices and small-business owners in metropolitan and Chungcheong province. The findings are as follows: First, they were physically well-prepared, as they thought their leisure activity was more important, their occupational role was more stable and they were old and healthy. Second, Women had notion about their occupation if they kept a good relationship with their colleagues. And they were psychologically prepared well as they valued their leisure activities. Third, if they perceived their occupations as stable and had more social and leisure activities, they were socially well-prepared. Fourth, Although the level of economical preparation depends on their wealth, the occupation and activity characteristics had no effect on the economical preparation. These findings imply that the retirement preparation as a recent social issue has been influenced by the nature of occupation and activity and suggest that the definite policy and program will be required for the retirement preparation of the middle-aged people from various aspects.

• Journal of Family Resource Management and Policy Review
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• v.4 no.1
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• pp.29-45
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• 2000

The purpose of this study is to investigate some influencial factors for urban housewives’economic retirement preparation. Questionnaires were distributed to the 550 housewives in Seoul. The 453 data obtained were analyzed by Frequency, Percentage, Mean, Factor analysis, Reliability, and Stepwised Multiple Regression with SPSS win PC+. The major findings of this study were summarized as follows: First, there wre significant differences on the attitudes of assets management and the perception of assets property according to the expectation for being supported in their old age and the controlable values. Second, the most influential variables on the economic preparation for the old age of the urban housewives were through the attitudes of assets management, the perception on it and controlable values. Based on the above findings the urban housewives should have concerns on the economic preparation in advance.

• Journal of Digital Convergence
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• v.12 no.11
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• pp.33-48
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• 2014

The purpose of this study was to investigate the relationships among the work satisfaction and quality of life with retirement preparation of middle-aged workers. Data from 283 subjects were collected and analyzed. The findings are as follows. First, people with higher quality of life tend to care more on health planning. Second, financial planning has nothing to do with quality of life, whereas self-respect has a positive effect on all the other indicators for retirement preparations except financial planning. Third, retirement preparations has not been affected by work satisfaction. The theoretical and practical implications of the findings were discussed and the directions for future research were suggested.