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KMID : 1124019970130010155
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Korean Social Security Studies
1997 Volume.13 No. 1 p.155 ~ p.182
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Theoretical Implication of Retirement Determining Variables and Its Social Policy Issues
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이정우/Lee, Jung Woo
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Abstract
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In the recent years, Korea has been facing the cold wave of a deteriorating social environment in which the unemployment rate and the forced retirement system have increased along with the economic recession. The problem is that the present employment instability is not merely a transient phenomenon as seen in the economic cycle; it will most likely continue along with the developrrbent of labor-saving-industrial society such as the introduction of new technologies, mechanization and office automization.
Viewed from an empirical standpoint, the employment instability particularly threatens the vulnerable groups such as the middle or old aged workers and the disabled workers. Most evidently, the increase of the employment instability with a growing age of workers is the result of the dysfunctioning labor market of Korea. The early retirees suffer economically and emotionally without the ripened social security system. Therefore, social security policies should be provided to secure employment stability of labor workers and the incomes of early retirees.
However, as the employment stability of the middle and old aged workers conflict with the profit maximization policy of companies, it is not easily achieved automatically by market function. Thereby, the governmental intervention in terms of social policy is requested. This study primarily examines the social status of economically active persons through life-cycle in relation to the current state of labor market. Secondly, the employment instability variables are examined according to workers and enterprises. Finally, a restructuring of the retirement benefit system, age differentiation of lay-off notice, and partial pension scheme are suggested as ultimate measures for employment stability.
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KEYWORD
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