Half of young people in Seoul struggling financially: Study

Nearly 28 per cent of young adults surveyed in Seoul reported having insufficient living expenses. - AFP

SEOUL: Nearly half of the youth population residing in Seoul now lives in poverty, with many seeking financial support from their parents, according to a new study released by the Seoul Metropolitan Government and Seoul Institute on Dec 6.

More than half of the youth population in Seoul – 55.6 per cent – faced asset poverty, according to the 2022 Seoul Young Adult Panel Study. This means that they lack sufficient liquid assets to cover their basic needs for three months.