[Reportage] Baby boomers build social enterprises for retirement life : Business : Home


Many South Koreans will retire in the next few years and more are looking to stay active in the next phase of their lives

By Lee Hyun-sook, director of the Hankyoreh Economy Institute

Woo Jae-ryong, 52, chairman of the Seoul Retiree Cooperative, worked in finance for 23 years. He was the first to design the installment fund and managed a fund appraiser. Woo quit his job as a retirement planning specialist at a finance company’s research center earlier this year. In March, he founded the co-operative for retirees.

Woo said, “Two years ago, I came across a ‘participatory model for the elderly’ when I went to the US on business. A happy life after retirement would be cooperating and living with people of various ages. I wanted to make a Korean version of the model that allows retirees to participate in economic and social activities and not be alienated from society.”

Woo Jae-ryong
Kim Jung-ho, is the president of “Bear Better”.

Kim Jung-ho, 48, is the president of “Bear Better”, a social enterprise. He worked in the information and communications industry for 21 years. He was in charge of the global business sector of Korea’s largest portal service, after having held several positions in the finance departments of large corporations. Kim was also a generous participant in philanthropic activities. In 2012, he quit his work and began his community service by establishing “Bear Better”, which provides job opportunities for people with developmental disabilities.[Reportage] Baby boomers build social enterprises for retirement life : Business : Home.


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