Seoul: Nearly four out of 10 individuals in South Korea were registered landowners as of last year, with the ownership rate highest among those in their 60s, government data showed Friday.
According to Yonhap News Agency, data from the Ministry of Land, Infrastructure and Transport indicated that 19.56 million people, or 38.4 percent of the country's registered population of 51.22 million, owned land as of the end of 2024. This represents an increase of 620,000 from the previous year.
By age group, 30.2 percent of people in their 60s owned land, followed by those in their 50s at 21.2 percent and those in their 70s at 20.8 percent. Men comprised 54.5 percent of all landowners, with women accounting for 45.5 percent.
Compared to 2006, when the government began compiling relevant data, the size of land owned by individuals dropped 4.7 percent. However, land owned by non-corporate entities, such as religious groups, increased 4.4 percent, and the total area of land owned by corporations surged by 35.6 percent over the cited period.
The data also revealed that 15.3 million households, or 63.4 percent of the total 24.12 million households, owned land as of the end of 2024, marking the first time household land ownership exceeded 15 million.