J Kim|Suk-Young Kang
FINANCIAL LITERACY AND PREPAREDNESS FOR RETIREMENT AMONG MIDDLE AGED NORTH KOREAN DEFECTORS IN SOUTH KOREA
Kangnam University|Binghamton University
north korean defectors living south korea rapidly increased 1990 2001 31339 2017 however ages 65 12 times likely live poverty counterparts south korea purpose study analyze factors influencing financial preparedness retirement middleaged north korean defectors using concepts financial literacy financial inclusion questioned 100 north korean defectors selected purposive sampling path analysis used main analysis method results show direct effect increased financial literacy resulted better financial preparedness retirement among middleaged north korean defectors statistically significant level addition boosttrapping method financial inclusion mediating effect relationship financial literacy financial preparedness retirement however study demonstrate influence financial literacy financial preparedness retirement different across income levels mediating effect financial inclusion relationship financial literacy financial preparedness statistically significant lowincome group meanwhile average income group financial literacy direct effect financial preparedness retirement statistically significant level based results study suggests practical policy implementation necessity customized financial education suited income levels development financial instruments retirement introduction financial social workers prepare stable old age north korean defectors