Poverty hits older adults harder in fast-aging society
Kim Young-soon, an office cleaner in her early 70s, says she grapples with high costs of living as her disposable income has been decreasing in recent years. Disposable income refers to the amount of money that is left for personal expenses and savings, after taxes, insurance, interest and other payments. “The employer would not hike my salaries, due to the high vacancy rate of office buildings amid the sluggish economic growth,” Kim said, adding she is financially distressed with high borrowing...