I see little emphasis in this article on real estate or rents. Sure, the issues they raise are contributors, but housing issues are foundational for many of the other problems they spend a lot of time on in the article. SK is more land-constrained than Japan. We're seeing family formation being negatively impacted in many areas of the world now due to high real estate prices. It's particularly acute in SK: https://ww…
It's in the middle of the article: > Another economic factor in the falling birthrate is the rising price of real estate and a resulting increase in unmarried or late-marrying people. The tradition in Korea is for men to prepare a family home before marrying, and the rising cost of housing in recent years has thereby triggered a decline in marriage rates. The Bank of Korea recently enacted emergency interest rate hik…
Fewer desireable/high paying jobs gets several paragraphs, but again, this would be less of a problem if rents weren't so high - people would be able to live on the incomes available. High real estate prices are sucking the oxygen out of the rest of the economy.