"No Matter How Hard You Work, This Salary Isn't Enough... Impossible to Prepare for the Future"

More Difficult for Non-Regular and Non-Office Workers

"Cannot Prepare for the Future with Labor Income"

A recent survey found that more than half of office workers believe it is difficult to maintain their livelihood or prepare for the future solely with earned income such as salaries.

This is the result of a survey on the "Status of Livelihood Maintenance Through Earned Income" conducted by the civic group Workplace Gabjil 119, which commissioned Global Research, a public opinion research agency, to survey 1,000 office workers nationwide from February 2 to February 8. On March 8, the organization announced that 56.4% of office workers responded that it is difficult to maintain their livelihood and prepare for the future with only their salary.

In particular, this response rate was higher among groups with relatively lower wage levels. Among non-regular workers, 63.3% answered that it is difficult to maintain their livelihood or prepare for old age with only earned income; for non-office workers, the rate was 62.2%; and among workers at businesses with fewer than five employees, it was 66.3%.

Cash. Yonhap News Agency

Regarding whether the government and companies are responsible for ensuring the ability to maintain livelihoods and prepare for the future through earned income, 81.7% answered "yes."

By age group, more than 55% of respondents in their 30s, 40s, and 50s all said it is "difficult."

As for activities to increase income beyond salary, "savings and installment savings accounts" accounted for 49.5%, and "financial investments such as stocks and funds" accounted for 46.8%. However, 19.8% responded that they do not engage in any additional activities.

The proportion of those not engaging in additional income-generating activities was relatively higher among groups that reported difficulty maintaining their livelihood with labor income alone, such as non-regular workers and employees at small businesses.

When asked about policies needed to maintain a livelihood based on labor income, "strengthening employment stability" (such as expanding regular employment and regulating dismissals) ranked highest at 36.7%. This was followed by: the introduction of a basic income system (32.2%), policies to ease the burden of housing costs (31.8%), raising the minimum wage and improving the wage system (27.6%), fair distribution of corporate profits (20.3%), and strengthening social insurance and old-age income security (17.6%).

Kim Kibum, an attorney at Workplace Gabjil 119, stated, "The reality has been revealed that many workers, despite working diligently, find it difficult to maintain their livelihood and prepare for the future with only earned income," and added, "Policy responses such as strengthening employment stability, raising the minimum wage floor, and expanding the social safety net are needed."

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