S. Korea to raise retirement age revision as official agenda next year South Korea will next year invite social discussions to push back the legal retirement age to maximum 65 from 60 in line with fast aging, but the move sought by the president whose term ends in spring next year raises eyebrow for having more political design. According to the Korean government on Wednesday, the third task force on population policy under the Ministry of Economy and Finance plans to announce later this year that it will socially raise the issue of extending retirement age from the current 60 to 65 from 2022. Finance Minister Hong Nam-ki had also noted earlier this month that the government will announce core tasks in June following review of discussions at the Economic, Social & Labor Council that involves representatives from labor, management, civic groups, and government.