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This study aimed to analyze the similarities and differences in retirement location preferences among Baby Boomers, Generation X, and the Echo Generation. An empirical analysis was conducted on 211 residents of the Seoul metropolitan area for this purpose. The findings revealed that, regardless of generation, the most preferred area for retirement housing were small and medium-sized cities in Gyeonggi-do. Additionally, Baby Boomers and Generation X preferred large cities in Gyeonggi-do, whereas the Echo Generation favored Seoul. Residents of Seoul, irrespective of their generation, showed a strong preference for Seoul, followed by large cities in Gyeonggi-do for Generation X and small to medium-sized cities in Gyeonggi-do for the Echo Generation. Those living in Gyeonggi-do, regardless of their generation, also preferred smaller cities within the region, followed by the larger cities. Among individuals wishing to reside in the metropolitan area post-retirement, the eastern and southern regions of Gyeonggi were the most favored areas across all generations. Regarding the type of area they preferred to move to after retirement, Baby Boomers had a preference for purely urban areas, while Generation X showed a preference for a combination of urban and rural areas. The Echo Generation, on the other hand, exhibited similar preferences for mixed urban and rural areas and purely urban areas. On the other hand, in the case of the echo generation, preferences for mixed urban and rural areas and urban areas were similar. In terms of selecting a post-retirement residence, transportation access was the top priority for Baby Boomers and Generation X, whereas living convenience was paramount for the Echo Generation. The study concluded with academic and practical implications based on these findings.
Yoo et al. (Sat,) studied this question.