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July 29, 2026Journal of Aging & Social Policy

Financial Profiles of South Korean Widows: The Roles of State, Market, and Family

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Authors

DKDahye KimJLJeremy Lim‐SohCMChristine A. Mair

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Overview

Latent class analysis reveals financial profiles in widows, highlighting the need for better pensions.

Key Points

  • This research aims to explore the financial profiles of widowed women in South Korea and how these profiles relate to their economic vulnerability and well-being.
  • Analyzed data from the Korean Longitudinal Study of Aging (2006-2022) involving 650 widowed women.
  • Conducted latent class analysis on 11 indicators including personal finances, property, family transfers, and welfare benefits.
  • Examined the association between financial profiles and socio-demographic characteristics and subjective well-being.
  • Five distinct financial profiles identified: 'Elite retirees' (3%), 'Non-working with diverse support' (30%), 'Working with diverse support' (14%), 'Financially unstable' (37%), and 'Dependent on child and Basic Pension' (17%).
  • 'Financially unstable' group reported the poorest well-being and significant exclusion from social assistance.
  • Findings suggest a need for more generous pensions and less restrictive asset tests in social assistance programs.

Cite This Study

Kim et al. (2026) studied this question.

synapsesocial.com/papers/6a69a2fcc8da07d9defa735chttps://doi.org/10.1080/08959420.2026.2702890
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