Seoul: The number of South Koreans relocating to different residences significantly went down in April, data showed Wednesday, as an aging population and a prolonged slump in the housing market continued to weigh on domestic mobility.
According to Yonhap News Agency, data compiled by Statistics Korea revealed that approximately 476,000 people moved last month, marking a 10.7 percent decrease from a year earlier.
The population mobility rate, which refers to the percentage of people relocating per 100 residents, also dropped 1.4 percentage points from a year earlier to 11.4 percent.
The statistics agency attributed the continued decline in population movement to the country's demographic shift toward an older population and subdued activity in the real estate market.
By region, Seoul reported a net outflow of 3,718 residents in April.
In contrast, the nearby port city of Incheon logged a net inflow of 2,535 people, while Gyeonggi Province, which surrounds the capital, posted a net gain of 3,101 residents.