Why More Young People Decide to Take It Easy

A new modesty is making inroads in Korea as young people begin to accept that the glamorous lifestyle of the very rich, the fast cars and spectacular weddings may never come their way.

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This is already a phenomenon among young people in Japan, which has been experiencing prolonged recession for two decades since the 1990s. Now many young people in Korea too are settling for a modest and more contented lifestyle, knowing that they would not be much happier if they worked all the hours that God sends and miraculously landed a permanent job.

One 26-year-old graduate of Yonsei University in Seoul got a job in a large furniture company on a permanent contract that pays W32 million (US$1=W1,100) a year. But he quit after just five months because "I went to work at 8 a.m. and left the office at 9 p.m. every single day, so I started to doubt whether that was a viable lifestyle".

His next job was as an English instructor in a private language school on a temporary contract with an annual salary that was W7 million smaller. But the workload was just a quarter. Now he has quit that job too.

"I won't work this year and live off the W9 million I've saved up. Of course I feel apprehensive, but I only spend W600,000 a month, so I don't have too much to worry about for a year. I'm happy without stress at the moment. It's a modest life, but I can enjoy my own life to the full and feel much more relaxed. I'm satisfied with my choice", he says.

For these young people, the first criterion for a job is no longer a permanent contract but a guarantee of some leisure. A 23-year-old university student, who has been on a leave of absence for two years, is earning W1.2 million a month as a contract worker in the call center of a department store.

She goes to work at 10:30 a.m. and leaves at 7:30 p.m. and gets Saturdays and Sundays off. She deposits W500,000 in her savings account and spend W100,000 to W150,000 on going outings each month.

"People are telling me off for not looking for a permanent job, but all you get after all the sacrifices is stress", she points out.

And a 25-year-old graduate of Kyunghee University makes W800,000 a month working part-time from home in the design industry. "I work when I want to work, earn just enough for my needs, and enjoy my hobbies. A permanent job no longer guarantees stability and success".

Koo Jeong-woo, a professor at Sungkyunkwan University, said, "There will be more such young people in these times of low growth without job creation. It's a personal choice, but if too many young people settle for less it could have a negative impact on economic development".