South Korea Sees Largest Population Mobility in Three Years in January

SEOUL — In January, South Korea experienced its most significant increase in population mobility in three years, driven by a surge in home transactions.

According to Yonhap News Agency, approximately 597,000 individuals moved to different residences last month, marking an 18 percent rise from the previous year. This surge is the largest recorded for January since 2021 and represents the highest growth rate since 2007. The population mobility rate, indicating the percentage of individuals relocating per 100 people, reached 13.8 percent, an increase of 2.2 percentage points from the year prior. Officials attribute this rise to a more than 40 percent increase in home transactions during the November-December period, following months of downturn. Regional data revealed a net outflow of 765 people from Seoul, while Gyeonggi Province and Incheon reported net inflows of 4,954 and 3,373, respectively. The year 2023 saw the number of people changing residences drop to its lowest in about 50 years, amid aging population and a housing market slump.

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