Fewer Koreans are electing to permanently relocate overseas than in previous decades, according to the foreign ministry.

It said the number of people who applied for emigration last year stood at 753, about 1.5 percent of the total recorded in the late 1970s.

On the other hand, the number of Koreans who returned home last year after residing abroad jumped more than 40 percent from a decade ago.

The ministry attributed the changing trend to improved living conditions in Korea due to its rapid economic development.