▲ A man enters a real estate agent's office in Seoul on Oct. 9, 2023. (Yonhap)

population mobility-tally

Population mobility rises by most in 5 years in Oct.

SEOUL, Nov. 29 (Yonhap) -- The number of South Koreans who moved to different residences in the country rose by the most in five years in October, data showed Wednesday.

Around 507,000 people changed their residences last month, up 11 percent from a year earlier, according to the data compiled by Statistics Korea.

It marked the largest growth for any October since 2018, when the figure jumped 20.5 percent.

The increase came as the number of house transactions soared 48.7 percent in August and September from a year earlier, the agency said.

It was also attributable to a low base effect, as the number of people who changed their residences fell sharply to below the 500,000 level in October 2022 for the first time since 1974.

The population mobility rate -- the percentage of those relocating per 100 people -- came to 11.7 percent last month, up 1.2 percentage points from the previous year, the data showed.

Seoul saw a net outflow of 4,727 people last month, while Gyeonggi Province, which surrounds the capital, and the western port city of Incheon posted net inflows of 3,129 and 3,002, respectively, the data showed.

The second-largest southeastern port city of Busan reported a net outflow of 1,199 people, and the southwestern city of Gwangju experienced a net outflow of 714 residents.

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