SEOUL – A recent study by the Seoul Institute has revealed a growing trend among young adults in Seoul to live with their parents, a phenomenon largely attributed to economic challenges and delayed independence.
The report, titled "Changes in the Life Course and Poverty Risk of Seoul Citizens," highlights that the rate of young adults living with their parents in Seoul has increased from 46.2% in 2000 to 55.3% in 2022. This indicates that financial independence is becoming increasingly difficult for young people in the city.
Key Findings:
Delayed Higher Education: The rate of young adults in Seoul going on to higher education has decreased from 73.2% in 2005 to 58.7% in 2020, lower than the national average. This is mainly due to the increasing number of students taking gap years to prepare for highly competitive university entrance exams.
Decreased Economic Activity: The number of economically active young people in Seoul has also declined, from 1.29 million in 2005 to 960,000 in 2022.
Age and Parental Co-residence: Younger individuals are more likely to live with their parents. In the 1970s, only 20% of Seoul and metropolitan area residents in their mid-30s lived with their parents, while the figure was more than double for those born between 1981 and 1986, at 41.1%.
Poverty Rate: The poverty rate for young adults in Seoul and the surrounding areas is higher than the national average. Young people aged 25–29 often struggle to find jobs after graduation, while those aged 35–39 face economic hardship due to delayed independence or recent moves toward independence.
Parental Income: Parental income significantly affects a young person's ability to live independently. Young adults from middle- and high-income families are more likely to become independent in their late 20s, while those from low-income families are less likely to do so even in their late 30s.
Impact on Marriage and Childbirth: This trend of delayed independence has led to a decrease in marriages and an increase in the age at which people marry and have children. The number of marriages in Seoul has dropped from 78,000 in 2000 to 35,000 in 2022. The average age of first marriage has risen from the late 20s in 2000 to the early to mid-30s in 2022 (34.2 for men and 32.2 for women). The average age of first childbirth has also increased from 29.5 in 2000 to 34.4 in 2022.
Recommendations:
The Seoul Institute suggests that the government needs to establish new support criteria that reflect the vulnerabilities and realities of the current generation of young adults, rather than relying on traditional standards. They also emphasize the need for improved income support systems that can assist young people who do not receive financial support from their parents or who have strained family relationships.
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