No easy retirement in South Korea

Almost 50% of Koreans over 65 now live in 'relative poverty', unable to supplement meagre pensions since they can't find suitable jobs

OUT of work and out of pocket, South Korean retirees are struggling to force their way back into an unwelcoming job market in an effort to supplement meagre or non-existent pensions.

But President Park Geun-Hye's vision of a new "creative economy" seems to have little space for a generation that grew up with shipyards and steel mills rather than smartphones and startups.

Kim Min-Su, 69, receives a monthly pension of 590,000 won (S$711) - the sole source of income for him and his wife who live in a mini-apartment in Seoul. "I wasn't able to put much aside when I was working because nearly all of it went on raising and schooling my four kids," Mr Kim said after a morning spent scanning job vacancy...

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