"Generation X" using the highest income but earning...It's dark in old age, and you're treating me like a kkondae.

Courtesy of Woori Financial Group

Six out of 10 "Generation X" born in the 1970s have yet to prepare for retirement, according to a survey.

According to a recent survey of 10,000 people aged 20 to 69 across the country by Woori Financial Group, only 39.3% of Gen X said they are currently preparing for retirement.

The reason why the retirement preparation rate for Generation X is significantly lower than 52.7% of the baby boomers (born in 1955-1969) is due to the burden of supporting children and parents at the same time.

As of this year, the average monthly income of Generation X between the ages of 45 and 54 was 6.24 million won, more than 1 million won higher than that of Generation M (born in 1980-1994) and baby boomers. 

The average monthly consumption is 2.89 million won, which is 700,000 won more than the M generation and 490,000 won more than the baby boomers.

When asked about "economic support" for families, 43.2% of Generation X answered that they "support both parents and children."

This was nearly twice that of Generation M (23.4%) or Baby Boomers (21.6%).

On the contrary, 14.7% of respondents said they do not support both parents and children, significantly lower than those of Generation M (28.7%) or Baby Boomers (40%).

Courtesy of Woori Financial Group

According to the report, Generation X is treated as a 'kondae' at work.

61.4% of Generation Z (born in 1995-2005) and 58.2% of Generation M identified Generation X as a "villain in the workplace."

55% agreed that Generation X itself thinks I'm a kkondae around me. The rate of experiencing generational differences was also the highest at 87%.

Woori Finance said, "Generation X is putting his retirement preparations on the back burner due to the burden of supporting his family and is suffering from triple troubles," adding, "It seems necessary to hurry to prepare with 10 to 20 years left until the end of the year."

"Gen X is currently positioned as a 'core generation' that plays a pivotal role in Korea, but its presence is gradually falling as attention is paid to the MZ generation, which leads the trend," he said. "Considering the proportion of the population and socio-economic influence of Generation X, it is worth paying attention to."

Reporter Park Sun-young of Digital News Team