Population Movement in August Up 3.8%... Impact of Increased Apartment Move-ins

As of last month, the number of domestic movers in South Korea recorded an increase for two consecutive months. This is analyzed to be due to the increase in newly occupied apartments in the metropolitan area.

According to the domestic population movement statistics for August released by Statistics Korea on the 27th, the number of domestic movers last month was 538,000, a 3.8% increase compared to the same period last year. The number of domestic movers had decreased for three consecutive months from April to June this year but turned to an increasing trend again from July.

An official from Statistics Korea explained, "The increase in the number of movers is due to a 12.1% increase in housing sales volume in June and July this year compared to the same period last year."

Among the total movers, 65.7% moved within the same province or city, while 34.3% moved between provinces or cities. Movers within the same province or city increased by 6.2% compared to the same month last year, whereas movers between provinces or cities decreased by 0.6%. The population movement rate (number of movers per 100 people) was 12.4%, up 0.5 percentage points from the same period last year.

Last month, net migration (inflow minus outflow) by province or city showed net inflows in seven provinces or cities including Incheon (3,834 people), Gyeonggi (2,090 people), and Chungnam (1,219 people). Ten provinces or cities, including Gyeongnam (-1,874 people), Gyeongbuk (-1,167 people), and Seoul (-1,020 people), recorded net outflows.

The net migration rate by province or city showed net inflows in Incheon (1.5%), Chungnam (0.7%), and Chungbuk (0.4%), while net outflows were recorded in Sejong (-1.0%), Ulsan (-0.8%), and Gyeongnam (-0.7%).

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