Bureau and Corporate Funded Body
In 2014, approximately 62.9 percent of youth employees were graduates of college or higher, but about 53.8 percent of elderly employees were graduates of middle school or below. Also, the average monthly income of youth employees was KRW 1.807 million, which was higher than the KRW 1.287 million of elderly employees. However, the income of elderly employees has increased by 25.7 percent over the last five years, which is much greater than that of youth employees, at 15.0 percent. In fact, the average income of both youth and elderly employees is substantially lower than the total average income of KRW 2.519 million.
The number of youth employees is on the decline, while the number of elderly employees has increased consistently from 207,000 to 306,000. Additionally, the employment rate of the elderly has increased from 22.5 percent to 27.0 percent.
In descending order, the fields with the most youth employees were: wholesale/retail (174,000 people), accommodations/restaurants (128,000), and education services (96,000). For elderly employees, it was found to be: wholesale/retail (51,000), business facility management/business support (43,000), and transportation (31,000).