Busan's declining youth population sounds alarm for local economy (South Korea)

Busan, South Korea's second largest city, is experiencing the country's fastest decline in the population of people in their 20s and 30s, raising concerns among the local community. A recent survey showed that the number of people in their 20s and 30s has fallen by 10% in the past five years.
It has come to light that over 10,000 companies have left Busan, sending shock waves through the economy. Currently, only 85 of the 2,703 listed companies nationwide have their headquarters in Busan, and only 10,000 in South Chungcheong Province (10,000 in South Korea).
The number is small compared to the 1 trillion won (about 113.4 billion yen) listed companies in Busan and North Chungcheong Province (8 companies) and North Chungcheong Province (91 companies).
The number of companies that have left has reached 950. According to a report by the Korea Employment Information Service, Busan's risk of disappearance index has reached 0.49, putting it in a dangerous stage. This index is equivalent to 60% of the adult female population under the age of 40.
This is calculated by dividing the population by the number of people aged 5 and over; if it is less than 0.5, the area is classified as at risk of extinction, and if it is less than 0.2, the area is classified as at high risk of extinction.
By 2050, Busan's female population in their 20s and 30s will drop by more than half, while the population of people aged 65 and over will
The population of Busan is expected to increase by about two-thirds, putting them at even greater risk of disappearance. As of last year, Busan's population was 3.28 million and Incheon's was 3.01 million. If things continue as they are, the population of the two cities will be in danger of disappearing in the near future.
Experts point out that the root causes of Busan's declining population are a low birth rate and a lack of jobs for young people.
On the other hand, Busan's problem is not limited to the region, and the net population outflow rate in the southeastern region (Busan, Ulsan, and Gyeongnam) is
Because it is the largest of the regions, many experts emphasize the need for active discussion about the Southeast Megalopolis (a wide-area metropolitan area formed by the expansion and connection of multiple large cities).