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Korea: Official maximum working age now 65

South Korea’s top court, on Thursday, raised the maximum working age in the country from 60 years to 65 years, citing changed life expectancy and economic situations as factors.

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The local media reported that ceiling of working age, which indicated a maximum age of people capable of labouring and earning income, was set at 65 years by the country’s 13-Judge Supreme Court.

It was the first change in 30 years since the court extended the maximum working age from 55 years to 60 years in 1989.

The ruling was forecast to influence the insurance premium and indemnity as the maximum working age is a basis to calculate the indemnity.

 


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