Which Country Korean Like to settle after their Retirement?

It is turned out at Prudential Life Insurance Poll that Canada is the best country in the world where Korean like to settle after retirement, sixty pint four percent answered. They assumed USD 2,500~3,000 per month budget for their living there. This result come out based on 500 personnel living in five major cities in Korea saying that they would like to settle abroad and Canada is the best location after their retirement.

We came to know that more half Korean replied and choose English mother tongue counties as their preferable countries where they like to settle after their retirement. We could interpret this reason is due to communication language since they learned English at the school as well as at working times. Please see their preferable countries.

1)       Canada : 14.4%

2)       America Hawaii : 11.6%

3)       Australia : 16.8%

4)       New Zealand : 8.8%

5)       Swiss : 8.4%

6)       Vietnam : 4.4%

7)       Japan : 4.4%

8)       Sweden : 2.6%

9)       Spain : 2%

10)    Philippine : 2%

11)   Singapore : 1.8%   

The reasons why they would like to settle overseas country are as;

1)       Natural Conditions like weather : 49.2%

2)       Leisure Life : 41.4%

3)       Culture and Life Style : 32.8%

4)       Welfare and Medical Insurance : 20.8%

While their concern about their settle are hard communication in foreign language (49.0%), higher living cost than Korea, less keep in touch with relatives and etc.

They calculated their living cost in Korea as USD 1,500~2,500 per month and assumed their monthly living cost in overseas country are as;

1)       USD 2,500~3,000 per Month: 26.8%

2)       USD 1,500~2,500 Per Month: 26.4%

3)       USD 3,000 ~ 3,500 per Month : 17.8%

They answered to the questions how they are planning making living cost after retirement are as;

1)       National Pension : 64.8%

2)       Retirement Pension : 36.8%

3)       Deposit : 40.4%

4)       Saving Insurance : 29.6%

5)       Pension Insurance : 27.8%

They estimated present retirement age is 60.9 years old which would be extended to 65.2 years old and their expected life is 83.2 years old.