S. Korea’s Per Capita GDP to Surpass $30,000 This Year

Politics

South Korea's per-capita gross domestic product(GDP) is expected to surpass 30-thousand dollars this year and 40-thousand dollars in 2023.

The National Assembly Budget Office issued the projections on Thursday in its mid-term economic outlook.

The office forecast the nation's per-capita GDP will post nearly 32-thousand dollars this year, up seven percent from a year earlier. Last year, the nation's per-capita GDP marked 29-thousand-744 dollars.

According to the projections, South Korea will reach the landmark 12 years after it surpassed the 20-thousand dollar mark in 2006. Other countries took an average of eight years to break the threshold.

Source: KBS World Radio