Greatra Mayana

Career & Employment Opportunities

Korean gov′t lays out measures to support job search of elderly ′생애 경력설계′로 장년층

It′s perhaps a sad sign of the times that
a great many people can no longer count of having a long and quiet retirement.
Many older Koreans, with no significant pension to speak of, are forced to either attempt
to start a small business or head back into the world of work to support themselves.
Hwang Ji-hye reports on the government′s efforts to give them a helping hand.
The elderly line up for a job fair. They′re people who are approaching retirement
or already have,… but are seeking employment again.
“I′m very confident in human resources and financial affairs. Managerial positions would
be preferable, but I can also be a hands-on worker or anything else.”
Lee is one of many Korean salary workers who are forced into retirement in their mid-fifties
and then struggle to eke out a living for the next two to three decades.
To help remove the uncertainties post-retirement, the Korean government on Wednesday unveiled
a package… it believes will eventually help boost much-needed domestic spending.
The package is aimed at lengthening the employment of salary workers.
One way to achieve the goal is limiting wage gains for older employees.
“We will expand subsidies for companies that introduce a wage peak system.”
The government will also provide career designing services for people over 50.
To encourage companies to introduce such schemes, the government will offer subsidies of about
1-thousand dollars for each employee who takes such vocational training run by their employers.
The finance ministry says… many retirees have had to set up restaurants or mom and
pop stores with their life savings… to make sure they have a steady flow of income.
But many end up facing bankruptcy due to intense competition,… with nearly two-thirds of
such businesses failing within three years. The hardships of retirees have often been
blamed for the delayed recovery in domestic spending.
The government hopes the new programs will help end the chronic problem.
Hwang Ji-hye, Arirang News.

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