This paper assesses financial preparedness for old age in the Republic of Korea by comparing expected retirement resources―including public pensions, family transfers, assets, and post-retirement earnings―with target consumption needs.
Using two retirement scenarios, it examines differences by gender and place of residence. Financial preparedness varies substantially across groups, with women facing much larger shortfalls than men. Continued employment and family support remain essential sources of old-age security, underscoring the transitional nature of the welfare system.