US or Korea: Where will Korean Americans retire?
Retirement communities, which are referred to as “silver towns” in Korea, offer assisted living. Some Korean American retirees consider moving to Korea and living out their twilight years in such places, which provide higher-quality services, health care and meals than those in the U.S. at more affordable prices. gettyimagesbankBy Dami KimDALLAS ― With birthrates hitting an all-time low and life expectancies getting longer due to extensive yet affordable health care in Korea, serving seniors has become big business in the country. Major conglomerates like Samsung and Lotte have built or are in the process of building retirement communities, which are also called “silver towns” in Korea.Silver towns are communities designed specifically to cater to the elderly. Koreans like Choi Hee who are nearing retirement say silver towns are not for everyone. “They're made for the top 1 percent of Korea. My husband and I did quite well for ourselves, but we still don't think we'd have enough to enter a luxurious silver town with our retirement funds. Not to mention,
Sep 16, 2023