Is South Korea’s Population Mobility at a 51-Year Low?
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Synopsis
South Korea's population mobility has hit a 51-year low, with only 428,000 relocations last month. The decline reflects ongoing demographic changes and sluggish housing transactions. As consumer sentiment also drops amid inflation concerns, the future of South Korea's housing market remains uncertain. Read on to discover the implications of these trends.
Key Takeaways
- Population mobility in South Korea has reached a 51-year low.
- Approximately 428,000 relocations occurred last month.
- The population mobility rate is now 10.2 percent.
- Seoul experienced a net outflow of 5,504 residents.
- Consumer sentiment declined significantly in December.
Seoul, Dec 24 (NationPress) The count of South Koreans moving to new residences has plummeted to the lowest level in 51 years for the month of November, driven by sluggish housing activity and shifts in demographics, according to data released on Wednesday.
Approximately 428,000 individuals changed their living arrangements last month, representing an 8.2 percent decline compared to the previous year, as reported by the Ministry of Data and Statistics, cited by Yonhap news agency.
This figure marks the lowest recorded for November since 1974, when 394,000 relocations were noted.
Declining population mobility is largely attributed to an aging and diminishing populace. Additionally, short-term variations are influenced by housing transactions and the availability of new apartments.
"Housing transaction numbers in September and October, which could impact the mobility statistics for November, saw a slight increase from a year prior, yet the number of finished apartment units decreased," noted a ministry spokesperson.
The population mobility rate, which indicates the percentage of individuals relocating per 100 residents, fell by 0.9 percentage points year-on-year to 10.2 percent, the lowest level since 2000, when the ministry began tracking this data.
Regionally, Seoul experienced a net loss of 5,504 residents in November, while the western coastal city of Incheon and Gyeonggi Province reported net increases of 1,902 and 2,789 residents, respectively.
In related news, South Korea's consumer sentiment saw a significant drop in December, the largest in nearly a year, attributed to rising inflation and a weakening local currency, as stated by the central bank on Wednesday.
The composite consumer sentiment index (CCSI) fell to 109.9 this month, down 2.5 points from November, according to a survey conducted by the Bank of Korea (BOK).
This drop represents the most substantial decline since December 2024, during which the country faced political turmoil following the declaration of martial law by then President Yoon Suk Yeol.
A reading above 100 indicates that optimists outnumber pessimists, whereas a score below 100 signals the opposite.
"The decline was primarily influenced by rising prices in essential goods, particularly agricultural and marine products as well as petroleum items," explained BOK official Lee Hye-young.
"Consumer apprehensions have also escalated due to external uncertainties, including increased exchange-rate fluctuations and a reevaluation of the artificial intelligence (AI) sector," the official added.
Point of View
The recent drop in population mobility in South Korea reflects broader demographic trends and economic challenges. The implications are significant, as they may affect housing markets and consumer confidence. It is essential to monitor these changes closely, as they impact various sectors and the overall economic landscape in the country.
NationPress
24/12/2025
Frequently Asked Questions
What is the current population mobility rate in South Korea?
The population mobility rate has decreased to 10.2 percent, the lowest since 2000.
How many people relocated in November?
Approximately 428,000 people moved in November, an 8.2 percent decline from the previous year.
What factors are contributing to the decline in population mobility?
The decline is attributed to an aging population and slowing housing transactions.
How does Seoul's population mobility compare to other regions?
Seoul experienced a net outflow of 5,504 residents, while Incheon and Gyeonggi Province saw net gains.
What is the current state of consumer sentiment in South Korea?
Consumer sentiment has fallen significantly due to rising inflation and currency fluctuations.
