April 20, 2024
Economy
More Koreans remain in parents’ ‘pouch’
[THE INVESTOR] South Koreans are becoming more dependent on their parents, with the many relying on them for financial support even after finding employment.
The so-called kangaroos -- adults who relying heavily on their parents -- have been on the rise, with parents going as far as to becoming involved in their children’s work, and even their military service.
A survey conducted by the Korea Labor Institute last year showed that more than half of employed young adults were financially dependent on their parents.
The KLI asked 4,290 employed and 1,397 unemployed young adults about their economic activities, and 53.2 percent of employed respondents said that they relied on their parents for living expenses.
Only 26.7 percent said that they covered their own expenses.
In survey conducted by the job search portal JobKorea, 56.1 percent of the 1,061 respondents identified themselves as a “kangaroo.”
Of these, 61 percent cited their financial reliance on their parents as identifying themselves as such, while 19.7 percent said that they were kangaroos because they were “neither financially nor cognitively” independent of their parents.
By Choi He-suk (cheesuk@heraldcorp.com)
The so-called kangaroos -- adults who relying heavily on their parents -- have been on the rise, with parents going as far as to becoming involved in their children’s work, and even their military service.
A survey conducted by the Korea Labor Institute last year showed that more than half of employed young adults were financially dependent on their parents.
The KLI asked 4,290 employed and 1,397 unemployed young adults about their economic activities, and 53.2 percent of employed respondents said that they relied on their parents for living expenses.
Only 26.7 percent said that they covered their own expenses.
In survey conducted by the job search portal JobKorea, 56.1 percent of the 1,061 respondents identified themselves as a “kangaroo.”
Of these, 61 percent cited their financial reliance on their parents as identifying themselves as such, while 19.7 percent said that they were kangaroos because they were “neither financially nor cognitively” independent of their parents.
By Choi He-suk (cheesuk@heraldcorp.com)
