One in Three Seoul Citizens Are MZ Generation... "Leisure Over Work," Marriage and Children Seen as "Choice, Not Necessity"

Analysis of Economic Activities and Social Perception Changes of the MZ Generation Using Seoul Survey and Census Data
The Largest Generation Group in Seoul Population at 35.5%
Preference for Leisure Time Over Working for Income... Increasing Negative Response to Marriage and Children as 'Essential' Opinions

[Asia Economy Reporter Lim Cheol-young] The MZ generation population living in Seoul numbers approximately 3.43 million, accounting for more than 35% of the total population of Seoul, making it the largest generational group in the city. They showed strong tendencies such as "willing to change jobs anytime if a better position comes up" and "preferring to have more leisure time rather than working solely for income," while expressing negative attitudes toward marriage and childbirth.

On the 4th, the Seoul Metropolitan Government announced the results of its first analysis on the characteristics, economic activities, and social perception changes of the so-called ‘MZ generation’ (Millennials + Generation Z), which has recently emerged as a driving force behind social, cultural, and economic changes, using data from the Seoul Survey and resident registration population statistics. The MZ generation refers to those born between 1980 and 2004 (aged 16 to 40 as of 2020).

According to the analysis, among Seoul’s population of 9.67 million as of last year, 3.43 million (35.5%) belong to the MZ generation, while 1.29 million (13.4%) are from the Baby Boomer generation. Among the MZ generation, 23.9% (2.31 million) are Millennials, and Generation Z accounts for 11.6% (1.12 million).

Last year, the economic activity participation rate of the MZ generation was 67.2%, surpassing the Baby Boomer generation’s rate of 66.3%. This phenomenon is interpreted as a result of Baby Boomers retiring while all age groups within the MZ generation entered the economically active population. Specifically, the MZ generation held jobs in the order of office workers (36.1%), students (22.9%), and service workers (11.3%). Among Millennials, 61.8% were office workers or professionals in white-collar jobs, while 72.6% of Generation Z were students.

Although the MZ generation’s economic activity participation rate exceeded that of the Baby Boomers, their values toward work differed significantly. The MZ generation is willing to change jobs anytime if a better position arises but prefers to have more leisure time rather than working more for income. The thoughts of the MZ generation on ‘changing jobs for a better position’ and ‘preferring leisure time over working for income’ have increased compared to 2015, whereas the Baby Boomer generation showed relatively lower preferences for ‘job change’ and ‘leisure time.’

The MZ generation’s values regarding marriage and childbirth also differed from those of the Baby Boomer generation. Unlike the Baby Boomers, who are positive about marriage and childbirth, the MZ generation showed negative attitudes with scores of 4.46 for ‘marriage is a must’ and 4.22 for ‘children are a must,’ on a scale of 10 indicating the degree of agreement.

Additionally, the MZ generation showed more open values by recognizing cohabitation as a form of marriage and considering divorce as a solution to marital problems compared to the Baby Boomer generation. In particular, among single-person households within the MZ generation, women were more negative than men about the necessity of marriage and children, and also showed a higher score of 7.48 for divorce compared to men’s 6.67, indicating a difference in perception.

Meanwhile, the preparation rate for post-retirement living expenses among all Seoul citizens, including the MZ generation, increased compared to 2015, but among single-person households, the preparation rate decreased. Furthermore, regarding the possibility of social mobility for their children, respondents diagnosed it as worsening compared to their own status.

The results will be used as basic data for establishing policies related to the MZ generation. Park Jong-su, Director of Smart City Policy at Seoul City, said, "Through this analysis, we confirmed that the MZ generation has different lifestyles and values compared to previous generations," adding, "We will further understand the MZ generation, which will lead Seoul in the future, and utilize this as basic data to promote customized policies considering the characteristics of the MZ generation."

This content was produced with the assistance of AI translation services.