Abstract
This study investigates the retirement landscape in South Korea, highlighting major challenges like sequence and longevity risks. Our analysis reveals that over half of South Koreans are not well-prepared for retirement. For example, retirees risk depleting 56.3% of their portfolio in 25 years, increasing to 97.6% in poor market conditions. We propose a dynamic withdrawal strategy to mitigate these risks, backed by empirical evidence. Additionally, we consider policy reforms like delaying the retirement age to enhance portfolio sustainability. This research is a significant contribution to discussions on effective retirement strategies, benefiting pension experts, regulators, policymakers, and retirees in South Korea.
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