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Thursday, December 2, 2021

Nw: Koreans’ Earnings High at Age 44

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Koreans on practical delivery earning extra than they employ on the age of 28 and their wages high at 44, nonetheless they dawdle attend into the red after 60, in response to a comprehensive gape by Statistics Korea.

A decade in the past these items came about earlier in existence — at 27, 39 and 56 — nonetheless the timeframe has shifted as a result of aging society and a decent job marketplace for younger individuals.

Commuters bundle up against the cool in Seoul on Friday. /Yonhap

The gape additionally reveals the authorities’s fiscal spending on each age group.

Out of W147 trillion in taxes quiet from the working-age population in 2019, W71 trillion was spent on kids underneath 14 and W76 trillion on senior citizens over 65 (US$1=W1,191).

W46 trillion in taxes was spent on kids’s public education, W30 trillion on healthcare for the elderly and W25 trillion on pensions.

A decade in the past, W45 trillion in taxes was spent on kids and W29 trillion on the elderly.

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