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Per-Capita GNI to Hit 30,000 US$ This Year
Lotte World Tower— Lotte World Tower is a 123-floor, 556-meter (1,824 ft) supertall skyscraper currently under construction in the Lotte World complex in Seoul. Once completed, it will be the tallest building on the Korean Peninsula, a title currently held by North Korea's Ryugyong Hotel.

South Korea’s per-capita GNI (growth national income) will hit 30,000 US dollars within this year according to a government source.

The government source said on Dec. 19, 2015 that the rosy prospect would be a certain thing as long as the economic growth rate maintains over mid-3 percentage points and exchange rates could remain as good as the year 2014.

In the minds of local South Koreans the 30,000-US-dollar level of per capital GNI is considered a sign of entering “the club of advanced countries.”

South Korea’s per capita GNI has hovered at around 25,000 US dollars since the nation first hit the level of 20,000 US dollars.

Experts pointed out that the real income level of South Korea has been similar to Eastern, Latin American countries, or low-level OECD countries.

They also added that the actual income level of South Korea would not be so different from the current level even if it’s per capital GNI hits the level due mainly to the structural problems of the South Korean economy.

Initially the South Korean government expected that the per-capita GNI would reach 30,000 US dollar in 2017.

Experts explained that the positive expectation is possible on the strength of the weakening US dollars again the Korean currency.




 

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