Nearly 60 percent of children supporting parents financially: survey

SEOUL, May 24 (Yonhap) -- Nearly 6 out of 10 South Koreans are supporting their parents financially, but people's thinking about bearing responsibility for aging parents has changed considerably over the past decade, as they demand more from society and less from children, a recent survey showed Tuesday. The survey, conducted by the Korea Institute for Health and Social Affairs, canvassed 1,000 people aged 20-64 by telephone between August and September last year. Responses were drawn from those with at least one of their parents or parents-in-law living. Results said 56.7 percent were economically assisting the parents, the responsibility lying heavier on older children of the family, but the amount of supportive money being larger among younger offspring. For children in their 20s, 18.3 percent said they were helping their parents financially. The number was 52.8 percent for those in their 30s, 71.1 percent for 40s, 79.3 percent for 50s and 71 percent for 60s. The average amount of support was 348,000 won (US$293.79) a month. The amount decreased with age: Those in their 20s gave an average of 435,000 won compared with those in their 60s who provided 150,000 won a month. Eldest sons on average bore the largest amount, 476,000 won, compared with the 339,000 won for younger sons. The situation was the same for daughters, with the oldest ones providing 287,000 won and the younger ones 266,000 won. Financial support for parents accounted for an average 9.7 percent of children's income, the survey said. The institute also polled public opinion on support for parents and found that while 89.9 percent of the people in 1998 believed the family is responsible for taking care of them, only 31.7 percent felt that way in 2014. Instead, 51.7 percent said society should take care of parents, compared with 2 percent in 1998. The traditional notion of responsibility of the eldest son has also weakened. In 1998, 22.4 percent said eldest sons should be responsible for supporting their parents. In 2014, it fell to 2 percent. Compared with the 7 percent in 1998 who said all sons are responsible, in 2014, only 1.1 percent said so. Comparatively, 24.1 percent in the latter year said all children are equally responsible, up from 15 percent in 1998. In an analysis of the findings, the institute said the long-held notion of the family taking care of the parents is changing as childbirths fall and women join the workforce, placing more responsibility on society. "We need to expand on a public care system in which the state handles the financial support, while the family provides emotional care," the institute said. "We also need to work on improving job availability for the elderly and social safety networks, and help financial aspects of aging parents through programs preparing them for the later years of their lives." (END)