Broadcast date: Friday, May 12, 2023 at 10 PM ■ The 60s Generation is Coming Starting last year, in 2022, those born in 1960 will begin receiving the national pension. Now that the 60s generation, known as the 586 generation, are entering their 60s, are those who have paid the national pension for more than 30 years since the introduction of the system in 1988, the first generation of the elderly in our country, perfectly implementing their retirement plans? ■ The old age of same-age friends divided by the national pension Lee Sang-jae, born in 1963, has been fulfilling his bucket list one by one with his wife since retiring two years ago. He enjoys a peaceful life by reading English novels in the morning, taking cooking classes at lunch, and riding a bike in the afternoon, but he says that the thing that makes him happiest is getting along well with his wife. The reason he can enjoy a sweet old age like a newlywed is because he has been working at a large company for more than 30 years by calculating his average monthly living expenses and gradually accumulating his pension. On the other hand, the situation of Kim Hyeong-woo, who is the same age, is a little different. This year, he is about to retire, and he and his wife calculated the minimum living expenses, but the fixed expenses alone far exceed the monthly pension amount he will receive. He worked as a non-regular worker for a long time and has only been converted to a regular worker for 8 years, so he cannot receive national pension benefits. So which of the two is the 60-year-olds in Korea facing old age? “We often talk about the three pension musketeers, so we talk about the national pension, retirement pension, and personal pension. But if you work at a large company for about 30 years, you can probably build a three-tier pension tower.” Lee Sang-jae, born in 1963 - “Even if you receive a national pension, what are you going to do with that 1 million won? 1,006,000 won. But with that... It’s really difficult.” Kim Hyeong-woo, born in 1963 - According to the national pension statistics published as of January 2023, the average national pension amount in Korea is 617,000 won. This is less than half of the minimum retirement living expenses of 1.243 million won surveyed by the National Pension Service. Only 5.1% of these people receive more than 1.3 million won. This means that it is virtually impossible to secure retirement with just a pension. That is why the 60s generation wants to jump back into the labor market. ■ We still want to work. Woo Byeong-moon, born in 1960 and living in Daegu, obtained six qualifications in just seven months to get a job. However, he said that getting a job is difficult. “Now that I am over 60, I can’t find anyone there. There are no people looking for me. So no matter how many job applications I submit, it doesn’t work out.” Woo Byeong-moon, born in 1960 - Experts call the 60s generation healthy and skilled workers, and say that a social system should be established to make good use of this workforce that will be pouring out in the future. As the average life expectancy increases, it is argued that recognizing people in their 60s as a productive workforce rather than someone who needs to be supported and creating a labor market could be a good way to overcome the aging society. “We can prevent the population gap by attracting retired people in their 60s back into the economically active population. That is good for preparing for retirement and for the country.” Kim Kyung-rok, Advisor, Mirae Asset Global Investments - ■ Why should we pay attention to the ‘born in 1960s’? With approximately 8.6 million people, those born in 1960 make up the largest proportion of the entire population of Korea. They are a generation that has experienced both boom and recession in Korea. They entered the labor market when the Korean economy took off in the mid-1980s, contributed to economic development, and worked for democratization. They also went through the IMF financial crisis in the 1990s. In middle age, they suffered from double hardships of supporting their parents and educating their children, but they endured the times of hunger and lived quietly and diligently with the tenacity. None of us can say that we have not been influenced by them. Just like the history they have lived through, their old age will also present new implications for our society. This is the ultimate reason why we must pay attention to the old age of the 60s generation. The episode “8.6 Million Retirement Tsunami - The 60s Generation is Coming” will air on KBS1TV at 10 p.m. on Friday, May 12. It combines the know-how of investigative reporting with the planning ability of a genuine documentary! “Current Affairs Direct” In charge of the Japanese forced mobilization compensation case and the Jeju 4.3 military trial victims’ retrial case. We are joined by attorney Lim Jae-seong, who silently stood by the victims protesting against massive state violence. Every Friday at 10 PM, KBS 1TV broadcast ✔ Tips: 010-4828-0203 / Current Affairs Direct Homepage / [email protected] ▶Homepage: http://program.kbs.co.kr/1tv/culture/... ▶Twitter: /kbssisajg ▶Facebook: /kbssisajg1 ▶Instagram: www.instagram.com/kbssisajg ▶For inquiries about copyright, objections, etc. regarding YouTube videos: [email protected]