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South Korea's Per Capita Income Holds at $36K, Eyes $40K by 2027

South Korea's nominal per capita gross national income (GNI) saw a marginal increase of 0.3 percent in 2025, reaching $36,855, according to preliminary data from the Bank of Korea. The modest dollar-term growth was due to the depreciation of the Korean won, which offset a more solid 4.6 percent increase when measured in the local currency. Among nations with populations over 50 million, South Korea ranks sixth in per capita GNI, trailing countries like the United States, Germany, and Japan. A central bank official projected that, barring further exchange rate impacts, the nation's per capita GNI could surpass the $40,000 mark by 2027.

Key Points: S. Korea's 2025 Per Capita Income Edges Up to $36,855

  • Per capita GNI at $36,855
  • Won depreciation offset solid growth
  • Ranked 6th among large-population nations
  • Forecast to exceed $40,000 by 2027
  • GDP grew in won but fell in dollar terms
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S. Korea's per capita income edges up to stay in $36,000 range

South Korea's per capita GNI rose slightly to $36,855 in 2025, with growth slowed by a weak won. Official forecasts it could surpass $40,000 by 2027.

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

Seoul, March 10

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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Reader Comments

S
Sarah B
The impact of currency depreciation is so clear here. The GNI grew in won terms but barely moved in dollars. It's a reminder that for a country's global economic standing, a stable currency is as important as real growth. Something for our policymakers to note as well.
R
Rohit P
South Korea has been stuck in the $36k range for three years now. Shows that breaking into the next income bracket is tough! They were a developing economy not too long ago, just like us. Gives perspective on our own journey. The road from $2k to $36k is long, but possible with the right policies. 🇮🇳
P
Priya S
Sixth among nations with 50 million+ population is still very impressive. They've built global brands like Samsung and Hyundai. We have our own IT and pharma giants. Focus should be on creating more such world-beating companies from India. That's the real wealth generator.
K
Karthik V
While the numbers are good, I hope we in India learn a balanced lesson. Chasing high per capita income is important, but we must ensure the growth is inclusive and doesn't create the extreme societal pressures and competition seen in some East Asian nations. Quality of life matters too.
M
Michael C
The projection to cross $40,000 by 2027 is optimistic but shows forward planning. It's not just about reaching a number, but sustaining it. India's growth story is different, with a much larger base at the bottom. Our policy focus must remain on lifting millions out of poverty first.

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