The number of South Koreans who moved to different residences in the country fell for the first time in six months, data showed Wednesday. Around 563,000 people changed residences last month, down 4.4 percent from a year earlier, according to the data compiled by Statistics Korea. It marked the first time since September last year that the figure logged an on-year decline. Home transactions have risen in recent months, but many appeared to have changed their residences in February ahead of the beginning of the new semester and for other reasons, agency officials said. The number of people who moved to different residences rose 5.2 percent on-year in February. The population mobility rate, which means the percentage of those relocating per 100 people, inched down 0.5 percentage point on-year to 13 percent last month. By region, Seoul saw a net outflow of 1,237 people in March, while Gyeonggi Province, which surrounds the capital, and the northwestern port city of Incheon posted net inflows of 3,226 and 3,237, respectively. In 2023, the number of people who changed residences fell to the lowest level in about 50 years amid population aging and a housing market slump. Source: Yonhap News Agency
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