Abstract
This essay explores robust indicators to empirically investigate how economic, social, demographic, and health-related determinants have affected the overall life satisfaction of 4,886 elderly Korean individuals during the pre-COVID-19 era, particularly in 2016. Using the 2016 Ko.We.PS merged datasets, the analysis of Pooled OLS regression, and cross-sectional ordered logit reveals, as for the year 2016, only certain items within each indicator group have more significance for life satisfaction than the overall economic, sociodemographic, and health-related indicators. Some items, among which, disposable income (1.41; t= 0.23; p=0.82; 95% CI, -1.1 to 1.4); land (p=0.004; t=2.86; R<sup>2</sup>=0.65; 95% CI of 2.3 to 1.2); and disability (.0026; t=0.87; p=0.38; 95% CI, -0.003 to 0.008) are positively associated with life satisfaction. This is while the location item (-.0014; t=-0.26; p=0.79; R<sup>2</sup>=0.65; 95% CI of -0.01 to 0.01), among others, negatively affects the overall life satisfaction of Korea’s elderly.
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