S. Korea’s per capita income edges up to stay in $36,000 range

Seoul, March 10 (IANS) South Korea’s per capita income edged up 0.3 per cent in 2025 to remain in the $36,000 range, as the depreciation of the Korean won against the US dollar offset actual solid income growth, central bank data showed on Tuesday.

Nominal per capita gross national income (GNI) stood at $36,855 last year, marking a 0.3 percent increase from a year earlier, according to the preliminary data from the Bank of Korea (BOK).

In terms of the won, the GNI climbed 4.6 percent from a year earlier to 52.42 million won in 2025, reports Yonhap news agency.

The figure first surpassed $30,000 in 2014 and continued to rise, nearing $38,000 in 2021. But it fell to the $35,000 range in 2022 before rebounding to $36,195 in 2023.

Growth then slowed to 1.5 percent in 2024 and 0.3 percent last year, keeping the figure in the $36,000 range for the third straight year.

Nominal gross domestic product (GDP) grew 4.2 percent on-year to 2,663.3 trillion won in 2025 but declined 0.1 percent in dollar terms to $1.87 trillion amid the weaker won.

The value of the Korean won per dollar declined 4.3 percent last year amid imbalances in foreign exchange supply and demand, as well as heavy overseas securities investments by local investors, among other factors, according to the central bank.

“Taiwan’s per capita GNI in 2025 stood at $40,585, as it benefited greatly from the semiconductor boom,” said Kim Hwa-yong, head of the BOK’s national income department. “Japan’s per capita GNI also rose to the $38,000 level following its base-year revision in December last year.”

Among the nations with populations of 50 million or more, South Korea ranked sixth in per capita GNI after the United States, Germany, Britain, France and Italy.

“Assuming no further impact from the won-dollar exchange rate, our per capita GNI is expected to surpass $40,000 in 2027,” the official said.

—IANS

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