[National Audit 2022] Half of Retired Athletes Are Unemployed or Earn Less Than 2 Million KRW per Month

10,000 Retire Annually, Average Age 23.6... Uncertain Future and Injuries
Rep. Lee Gae-ho: "Less Than 1% of Budget Allocated, Government and Sports Council Support Must Increase"

Every year, as many as 10,000 athletes retire, and it has been revealed that more than half of them experience financial hardship. Most athletes retire in their 20s and continue to face difficult living conditions, but government and Korea Sports Council policies and budget support are found to be severely insufficient. Photo by Getty Images

[Asia Economy Reporter Kim Heeyoon] Every year, about 10,000 athletes retire, and it has been revealed that more than half of them suffer from financial difficulties. Most athletes retire in their 20s and continue to face hardships, but government and Korea Sports Council policies and budget support are grossly insufficient.

According to the status of retired athletes in Korea submitted by the Korea Sports Council to Lee Gaeho, a member of the National Assembly's Culture, Sports and Tourism Committee from the Democratic Party, 47,046 athletes retired over the past five years at an average age of 23.6.

By sport, football accounted for the largest share at 23%, followed by taekwondo at 13% and baseball at 5%. The reasons for deciding to retire were cited as uncertain future (29.8%), injury (24.8%), and lack of competitiveness (12.1%).

Looking at employment status after retirement, 29.8% found jobs related to sports, while 41.9% were unemployed with no job at all. This figure is nearly five times higher than the youth unemployment rate of 8.9%.

Even among those employed, 64.6% were in non-regular positions, and 51.6% earned less than 2 million won per month.

However, support from the government and the Korea Sports Council for retired athletes was found to be grossly insufficient. The budget for retired athletes accounted for only 0.1% of the Ministry of Culture, Sports and Tourism's total sports budget and 0.4% of the Korea Sports Council's total budget.

Assemblyman Lee said, “Among the 10,000 athletes retiring every year, more than half continue to live difficult lives after retiring in their 20s,” adding, “It is urgent for the government and the Korea Sports Council to expand interest and support so that retired athletes can start their second lives.”

This content was produced with the assistance of AI translation services.