"Three out of every 10 who consider themselves middle and lower class said their children’s economic situation was unlikely to be better than their own (28 percent and 30.3 percent). Almost half of them said it is unlikely their own social and economic status will improve despite their life-long efforts (43.7 percent in the middle class and 50.8 percent for the lower class). Hyundai Economic Research Institute managing director Yoo Byung-kyu said, "The worsening economic situation and bleak prospects for the future make people less willing to actively participate in economic activities and overcome challenges.”