Both the general public and young Koreans identified "real estate and housing instability" as the most serious problem facing South Korean society, a government survey found. The two groups diverged, however, on what drives their anxiety and what values should guide national development strategy.

Park Hong-keun, minister of the Ministry of Planning and Budget, shared the survey results with private-sector experts Wednesday at a future strategy advisory council meeting held at Conference House Dalgaebi in Jeong-dong, Seoul, where participants discussed the direction of national development.

Ministry of Planning and Budget Minister Park Hong-keun [Yonhap]
Ministry of Planning and Budget Minister Park Hong-keun [Yonhap]

The Ministry of Planning and Budget conducted the online survey from June 23 to 29, polling 1,000 people aged 19 and older from the general public and 500 young people between the ages of 19 and 34.

Some 25.7 percent of the general public and 27.8 percent of young respondents named "real estate and housing instability" as the biggest problem facing the Korean economy and society — the top response in both groups.

The sources of anxiety differed by generation. The general public pointed to "the burden of housing and living costs" (24.0 percent) as their greatest concern, reflecting a priority on livelihood stability. Young respondents, by contrast, chose "instability in employment and business" (36.4 percent) as their top worry, indicating deeper concern about job market conditions.

Both groups held a predominantly pessimistic outlook on the country's future. A significant share of respondents expected South Korea's economic and social conditions to deteriorate over the next 20 years compared with today.

When asked what factor would most shape South Korea's trajectory over the next two decades, both the general public (47.8 percent) and young respondents (43.8 percent) most frequently cited demographic change.

Views also diverged on what values should take priority in the country's medium- and long-term development strategy. The general public ranked "improving the stability and happiness of people's lives" highest at 27.2 percent, while young respondents placed "economic growth and strengthening industrial competitiveness" first at 31.6 percent.

In the technology and industry sector, the general public prioritized "narrowing gaps between industries and building a foundation for shared growth" (35.5 percent), while young respondents favored "expanding research and development support that tolerates failure" (34.6 percent). On labor market policy, the general public chose "strengthening the social safety net" (33.2 percent) as the top priority, while young respondents selected "creating new jobs" (31.4 percent).

"A future strategy has meaning only when it reflects diverse opinions from the public and experts, not when the government decides unilaterally," Park said. "Based on the hopes and concerns of the people — particularly the younger generation — we will steadily build a blueprint for South Korea 20 years from now."


y2k@heraldcorp.com