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S.Korea’s population mobility

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Last month, South Korea’s population mobility fell for the 16th consecutive month, owing to a weak housing market and an ageing population, according to statistical office data released Wednesday.

According to Statistics Korea, the number of persons who changed their domicile in April was 483,000, a decrease of 18.7 percent from the previous year.

It has been declining for 16 months in a row since January of last year, as the older population has refrained from relocating to other areas. The decline in the property market also led to diminished mobility. In April, the number of persons aged 15-29 fell by 197,000, while those in their 30s and 40s fell by 132,000 and 72,000, respectively.

Last month, the number of people in their 50s and 60s increased by 38,000 and 568,000, respectively.

The aggregate number of house sales in February and March was 97,000, a 48.9 percent decrease from the same time previous year.

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The population mobility rate, or the number of persons who moved to other sections of the nation per 100 people, fell to 11.4 percent in April, the lowest level since data collection began in 2000.

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