This file photo taken April 1, 2024, shows a port in the southeastern city of Busan. (Image courtesy of Yonhap)
BUSAN, Aug. 2 (Korea Bizwire) – The South Korean port city of Busan is experiencing an ongoing population drain, particularly among its younger residents, according to recent government statistics.
Data released on August 1 by the Dongnam Regional Statistics Office reveals that Busan saw a net outflow of 3,742 residents in the second quarter of this year. While this represents a slight decrease from the 3,842 net outflows recorded in the same quarter last year, it marks a significant increase from the 2,433 net outflows in the first quarter of 2023.
The exodus spans all age groups, but young adults are leading the departure. Those in their 20s and 30s showed the highest rates of net outflow at 1.2% and 1% respectively. The trend is particularly pronounced among recent college graduates aged 25 to 29, who exhibited an overwhelming 2.1% net outflow rate, far surpassing other age brackets.
Analysts attribute this trend to the lack of suitable employment opportunities for young professionals in Busan. Many new graduates, unable to secure satisfactory positions in their hometown, are relocating to Seoul or neighboring areas in search of better prospects.
The statistics office reported that the most common destinations for Busan’s departing youth are Gyeongsang Province (32.4%), Seoul (18.5%), and Gyeonggi Province (13.3%). This pattern suggests a migration towards areas perceived to offer more diverse job markets and career advancement opportunities.
M. H. Lee (mhlee@koreabizwire.com)
