Thomas R. Klassen - Koreas Retirement Predicament

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Korea's Retirement Predicament

The distinguishing feature for many workers in South Korea is contractual and often involuntary retirement at a young age (mid-fifties for most workers) followed by precarious and low-paying self-employment or contract work. In the past this practice, which is also found in other East Asian nations, provided firms with a youthful and highly productive workforce. However, with a rapidly ageing population and shifts in the labour market, the existing arrangement is becoming less and less functional.

This book examines how this retirement arrangement arose, and the policy reforms that have been both undertaken and proposed to allow workers to remain employed longer. The analysis focuses on the institutional constraints to reforms, as well as the impact forced retirement has on individuals. Using a multidisciplinary and comparative approach, the authors study contractual mandatory retirement trends and policies in South Korea, and in doing so illuminate the political, social, legal, economic and labour market implications of this widespread practice.

As nations across Asia face ageing populations, this book will be welcomed by students and scholars interested in Korean studies, social policy, social welfare and gerontology. It will also be of great value to policy makers.

Thomas R. Klassen is a Professor in the Department of Political Science, and the School of Public Policy and Administration, at York University, Canada.

Yunjeong Yang is an Assistant Professor and Head of the Department of International Development Studies at the Graduate School of International and Area Studies, Hankuk University of Foreign Studies, Seoul, Korea.

Routledge Advances in Korean Studies

1. The Politics of Economic Reform in South Korea
A fragile miracle
Tat Yan Kong

2. Market and Society in Korea
Interest, institution and the textile industry
Dennis McNamara

3. Social and Economic Policies in Korea
Ideas, networks and linkages
Dong-Myeon Shin

4. North Korea in the World Economy
Edited by E. Kwan Choi, Yesook Merrill and E. Han Kim

5. Legal Reform in Korea
Edited by Tom Ginsburg

6. Women, Television and Everyday Life
Journeys of hope
Youna Kim

7. Transformations in Twentieth Century Korea
Edited by Chang Yun-Shik and Steven Hugh Lee

8. The Development of Modern South Korea
State formation, capitalist development and national identity
Kyong Ju Kim

9. Industrial Relations in Korea
Diversity and dynamism of Korean enterprise unions from a comparative perspective
Jooyeon Jeong

10. The Global Korean Motor Industry
The Hyundai Motor Company's global strategy
Russell D. Lansbury, Chung-Sok Suh and Seung-Ho Kwon

11. Korean Workers and Neoliberal Globalisation
Kevin Gray

12. Korea in the New Asia
East Asian integration and the China factor
Francoise Nicolas

13. Foreign Direct Investment in Post-Crisis Korea
European investors and mismatched globalization
Judith Cherry

14. Korea Confronts Globalization
Edited by Chang Yun-Shik, Hyun-ho Seok and Donald L. Baker

15. Korea's Developmental Alliance
State, capital and the politics of rapid development
David Hundt

16. Capitalist Development in Korea
Labour, capital and the myth of the developmental state
Dae-oup Chang

17. Political Protest and Labour Movements in Korea
Solidarity among Korean white-collar workers
Doowon Suh

18. Retirement, Work and Pensions in Ageing Korea
Edited by Jae-jin Yang and Thomas R. Klassen

19. South Korea Under Compressed Modernity
Familial political economy in transition
Kyung-Sup Chang

20. New Millennium South Korea
Neoliberal capitalism and transnational movements
Edited by Jesook Song

21. Human Rights Discourse in North Korea
Post-colonial, Marxist and Confucian perspectives
Jiyoung Song

22. Digital Development in Korea
Building an information society
Myung Oh and James F. Larson

23. The Politics of Coalition in Korea
Between institutions and culture
Youngmi Kim

24. South Korean Social Movements
From democracy to civil society
Edited by Gi-Wook Shin and Paul Chang

25. IT Development in Korea
A Broadband Nirvana?
Lee Kwang-Suk

26. Contemporary South Korean Society
A critical perspective
Edited by Hee-Yeon Cho, Lawrence Surendra and Hyo-Je Cho

27. De-Bordering Korea
Tangible and intangible legacies of the Sunshine Policy
Edited by Valrie Gelzeau, Koen De Ceuster and Alain Delissen

28. Korea's Retirement Predicament
The ageing tiger
Edited by Thomas R. Klassen and Yunjeong Yang

Korea's Retirement
Predicament

The ageing tiger

Edited by Thomas R. Klassen
and Yunjeong Yang

First published 2014
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon, OX14 4RN

Simultaneously published in the USA and Canada
by Routledge
711 Third Avenue, New York, NY 10017

Routledge is an imprint of the Taylor & Francis Group, an informa business

2014 selection and editorial material, Thomas R. Klassen and Yunjeong Yang; individual chapters, the contributors

The right of Thomas R. Klassen and Yunjeong Yang to be identified as the authors of the editorial material, and of the authors for their individual chapters, has been asserted in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.

All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.

Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.

British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British Library

Library of Congress Cataloging in Publication Data
Korea's retirement predicament: the ageing tiger / edited by Thomas R. Klassen and Yunjeong Yang.
pages cm. (Routledge advances in Korean studies; 28)
Includes bibliographical references and index.
ISBN 978-0-415-64410-5 (hardback : alk. paper) ISBN 978-0-203-36208-2 (e-book) 1. RetirementGovernment policyKorea (South) 2. Early retirementKorea (South) 3. Retirement ageKorea (South) 4. WomenRetirementKorea (South) I. Klassen, Thomas Richard, 1957
HQ1063.2.K6K57 2013

306.3'8095195dc23

2013003447

ISBN: 978-0-415-64410-5 (hbk)
ISBN: 978-0-203-36208-2 (ebk)

Typeset in Times New Roman
by RefineCatch Limited, Bungay, Suffolk

To Dae-Gu Han and Young He Yoo

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