Population mobility rises 8.6% in June on base effect, increased home transactions

The number of Koreans relocating to new residences increased 8.6 percent from a year earlier in June, mainly due to a base effect and a rise in housing transactions, government data showed Wednesday. According to the data compiled by Statistics Korea, approximately 478,000 people changed residences last month, up from around 440,000 people a year earlier. The figure marked a rebound following three consecutive months of on-year decline since March. The population mobility rate, which refers to the percentage of people relocating per 100 residents, also went up 0.9 percentage point from a year earlier to 11.4 percent. "The volume of housing transactions in April and May rose 10.8 percent compared to the same period last year, and the particularly low number of moves in June 2024 likely created a base effect," said Lee Eun-jeong, an official at Statistics Korea. Despite the on-year increase, the agency noted that the June figure was still the ninth lowest for the month since data compilation began in 1970. Lee added that the broader trend of declining population movement is attributed to KoWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times