Proceedings of
6th International Conference On Advances In Economics, Social Science and Human Behaviour Study ESSHBS 2017
"THE ECONOMIC INDEPENDENCE OF YOUNGER GENERATIONS AND INFLUENTIAL FACTORS"
Abstract: “The aim of this study was to investigate the state of economic independence of Korean adolescents and young adults, and to explore potential factors that affect their independence. We surveyed 221 high school students on their economic independence and potential influencing factors (e.g. demographics, family relationships, economic satisfaction, etc.). The states of economic independence were divided into four stages; Stage 1 (strong), Stage 2 (average), Stage 3 (weak), and Stage 4 (very weak). We also analyzed big data from 116,797 young adults on their economic activity, based on a population survey provided by the Korea National Statistical Office. Among 221 survey respondents, 33.0% were classified as Stage 1, 22.6% as Stage 2, 29.9% as Stage 3, and 14.5% as Stage 4 of economic independence. Gender and age were statistically significant characteristics that relate to economic independence (P 0.05). The most common reason that students wanted to become economically independent was t”
Keywords: Economic independence, Adolescent, Youth, Family