January Seoul Population Net Inflow of 3,946 Compared to Previous Year..."Effect of New Apartment Move-ins"

Domestic Population Movement Statistics... Jeju Experiences Net Outflow for Two Consecutive Months

[Sejong=Asia Economy Reporter Kim Hyunjung] As newly built apartment complexes in Gangdong-gu, Seoul, reached their move-in period, Seoul recorded a net population inflow last month for the first time in 11 years.

According to the 'January Domestic Population Movement' report released by Statistics Korea on the 26th, the number of movers nationwide last month was 647,000, a decrease of 20,000 (3.0%) compared to the same period last year. The number of movers marked the highest for January since 2017 (577,000).

Six out of ten movers relocated within the same province or city. Movers within the same province or city decreased by 3.1% from a year earlier to 415,000, accounting for 64.2% of the total. Movers who changed provinces or cities decreased by 2.9% to 232,000.

By region, last month in Seoul, 131,105 people moved in and 127,159 moved out, resulting in a net inflow of 3,946 people. This is the first time in 11 years, since January 2009 (3,340 people), that Seoul's population has grown based on January figures.

An official from Statistics Korea explained, "Seoul usually shows a net population outflow, but last month, the move-in of apartment complexes in the Godeok-dong area of Gangdong-gu led to a net inflow."

In the case of Jeju, following a net outflow of 24 people in December last year, there was a further decrease of 284 people last month. This is the first time since January 2011, when there was a net outflow of 40 people, that Jeju's population has shrunk based on January figures. The decrease of 286 people is the largest since January 2010.