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Maybe the evidence is anecdotal, but I've lived in Korea for 20 years, and there's always a huge new, self-contained apartment complex going up nearby. If anything, they've ramped up production in that time. While older population centers are left to decline. Maybe not in Seoul which is shoulder-to-shoulder apartment complexes already, but the smaller cities are full of decaying apartment complexes since they put them up, then completely fail to maintain them as they know their market is full of people who will move into the next complex since "gotta have the latest and greatest" is a problem here.
There's good evidence though. When you drive from Incheon Airport into Seoul, you see a ton of new apartment / condos going up. Every time I visit, I see more and more buildings put up.