Exceeded the 30% mark among domestic private vehicle owners with 60 or more vehicles

2023-04-23 21:31:00

Three out of 10 private vehicles registered in Korea are owned by drivers over the age of 60.

According to the vehicle registration statistics of the Ministry of Land, Infrastructure and Transport, as of the end of last month, out of 21,841,827 vehicles registered by individuals excluding corporations and businesses, 6,907,857 vehicles, or 31.6%, were owned by 60 or more.

As of the end of each year, the share of registered vehicles for borrowers in their 60s or older continued to rise from 23.83% in 2018 to 29.29% last year, before exceeding the 30% level this year.

As of the end of March this year, the number of vehicles owned by people in their 70s was 1,586,292, regarding three times the number of 502,166 cars in their 20s or younger.

This distribution of vehicle owner age is interpreted as a result of the overall aging trend of the population.

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