Middle-aged South Koreans risk becoming Japan's 'lost generation' without assets

Middle-aged South Koreans are at risk of mirroring Japan's "lost generation" if they fail to accumulate adequate assets, a Chosun Ilbo report suggests. The comparison points to a worrying trend where a significant portion of the population may reach middle age without the financial security needed for their later years.

The article expresses concern over the economic prospects of this demographic, drawing parallels with the Japanese experience of prolonged economic stagnation and personal financial hardship. The "lost generation" in Japan refers to those who came of age during periods of economic downturn, struggling with job scarcity and asset accumulation, leading to decades of financial instability.

South Korea's demographic and economic landscape appears to be creating similar conditions. The inability to build wealth by middle age could have severe long-term consequences, impacting retirement security and overall quality of life. The report implies a need for proactive measures to address these economic vulnerabilities before they become as entrenched as they did in Japan.