People in Their 50s Had It the Hardest... 62.1% of Seoul Residents Aged 50–54 Support Both Parents and Children

[Financial News]  A significant number of Seoul residents in their 50s are simultaneously responsible for supporting their parents and raising their children. Among those aged 50 to 54, more than six in 10 were shouldering this so-called "double burden."
According to the first results of the Seoul Quality of Life Index for Middle-Aged and Older Adults, jointly developed by Kye Bong-oh, a sociology professor at Kookmin University, and the Seoul 50 Plus Foundation, 88.1% of Seoul residents aged 40 to 64 were caring for at least one of their parents or children.
The so-called "sandwich generation," which supports both parents and children, accounted for 48.4% of the total. By age group, the figure was highest among those aged 50 to 54, at 62.1%. The survey was conducted last June among 2,058 Seoul residents aged 40 to 64.
Quality-of-life satisfaction among middle-aged and older adults varied more by housing type, income and marital status than by employment status. The overall average was 3.18 out of 5, while the gap between employed and unemployed respondents was just 0.06 points. By contrast, differences of up to 0.69 points were found by housing tenure, 0.65 points by income level and 0.57 points by marital status.
By housing type, homeowners recorded a quality-of-life satisfaction score of 3.31, compared with 2.62 among those living in monthly rental housing without a security deposit. Married respondents scored 3.33, while unmarried respondents scored 2.76, confirming a difference based on marital status. The average monthly income of middle-aged and older households in Seoul was 6.617 million won, but only 20.9% said they were satisfied with their current income. Even among those in the top income quartile, the satisfaction rate remained around 21%.
A significant gap also emerged between demand for policies and the public's actual experience of them. While 63.9% said policies for middle-aged and older adults should be expanded, only 22.6% felt that current policies were helpful. The gap between the two figures was 41.3 percentage points.
Linking people with social-contribution jobs was identified as the most needed policy, at 77.7%. It was followed by exercise and physical-activity programs specifically for middle-aged and older adults at 75.7%, employment training and reemployment counseling at 75.6%, and AI and digital skills education at 73.3%.
Forum participants also argued that the employment challenges facing middle-aged and older adults should not be viewed simply as a shortage of jobs. Instead, they said the issue should be approached as a mismatch between individuals' career experience and market demand.
Experts proposed identifying suitable jobs for middle-aged and older adults in seven fields, including safety and firefighting, IT and telecommunications, and AI and data. They also called for stronger employment support centered on people's local living areas.


[email protected] Han Seung-gon Reporter