Seoul: The number of South Koreans relocating to different residences went down slightly in March, data showed Wednesday, amid population aging and a housing market slump.
According to Yonhap News Agency, approximately 549,000 people moved last month, marking a 2.6 percent decrease from a year earlier. The population mobility rate, which refers to the percentage of people relocating per 100 residents, inched down by 0.3 percentage point from a year earlier to 12.7 percent.
The agency stated that the population mobility is on a downward trend due to the prolonged slowdown in the housing market and the aging of the population. By region, Seoul recorded a net inflow of 1,306 people in March, while the northwestern port city of Incheon posted a net inflow of 3,605.