KOREAN NET

The Office for Government Policy Coordination on March 11 released its 2024 survey on young adult lifestyles that analyzed the overall status of people ages 19-34. Shown is a scene from the Youth Policy Expo in September last year at Yeouido Park in Seoul's Yeongdeungpo-gu District. (Yonhap News)

By Park Hye Ri

The average annual income of Koreans ages 19-34 last year reached KRW 26.25 million, up over 20% from 2022.

The Office for Government Policy Coordination on March 11 announced this in releasing the results of a 2024 survey on young adult lifestyles. The second of its kind after its launch in 2022, the study targeted 15,098 households with members in the 19-34 age range in the nation's 17 cities and provinces.

The average annual salary was KRW 26.25 million last year, up 21.4% from KRW 21.62 million in 2022. The average amount of assets was KRW 50.12 million and that of debt KRW 16.37 million.

Over half of young adults surveyed (51.3%) lived in households headed by the younger generation, while 48.7% of them lived in households led by their parents or others.

Monthly living expenses reached an average KRW 2.13 million, specifically KRW 800,000 for food, KRW 220,000 for transportation, and KRW 180,000 for entertainment and culture.

By marital status, 81% were single and 19% had either married, divorced, separated or been widowed, with 23.8% living alone. Among singles, an average of 63.1% -- 67.8% for men and 57.5% for women -- said they planned to marry.

On a scale of 0-10 with 10 being the highest, respondents reported a life satisfaction score of 6.7, slightly higher than the national average of 6.2.

Turning to what they wanted in life (multiple responses allowed), the vast majority cited desired job (95.9%), good relationships (94.7%), and high income and many assets (93%) along with dating (78.3%), marriage (74.4%), contribution to society (71.8%) and raising children (69%).

"This 2024 survey on young adult lifestyles is highly important in confirming the status quo and changes in awareness of their lives," said Kim Dalwon, head of the OGPC's Youth Policy Coordination Office. "We will actively use the research results to devise future-oriented youth policy to improve the lives of our young adults, who are our country's future."

hrhr@korea.kr