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Skyrocketing housing prices force Seoul residents to move to Gyeonggi Province
More people are leaving Seoul to nearby provinces like Gyeonggi and other greater Seoul regions due to the financial difficulties caused by the pandemic, coupled with skyrocketing housing prices.
Last year, 402,000 residents left Seoul as 354,000 arrived from other regions, resulting in a net loss of 48,000 residents, according to a report by Statistics Korea.
Of the 402,000 that left Seoul, 266,000 people moved to Gyeonggi Province, and 27,000 went to Incheon.
Meanwhile, 180,000 people moved from Gyeonggi Province to Seoul.
|Most of those that moved from Seoul to Gyeonggi Province are those in their 20s to 40s with relatively weak financial resources.