Recent data has shown that South Korea has a high elderly employment rate compared to other member nations of the Organization for Economic Cooperation and Development(OECD).
According to the OECD, as of 2014, 31-point-three percent of South Korean seniors aged 65 or above were employed, the second highest among the 34 member countries, following Iceland.
South Korea’s elderly employment rate was also found to be two-point-three times higher than the OECD average, according to the data.
Analysts attributed the findings to the fact that many South Korean elderly people have to work even after their official retirement.
The employment rate of the elderly stood at 20-point-eight percent in Japan and some ten percent in Britain. Germany and France posted single-digit rates of five-point-eight percent and two-point-three percent, respectively.
South Korea also ranked at the top in terms of the employment rate among people aged 75 or older. The 19-point-two percent rate was the highest among 24 countries with comparable figures.
Mexico was the only other OECD country that had a double-digit rate for the age group with 15-point-seven percent.