[WSJ] When will S. Korea reach current US, Japan levels of wealth?

January 5, 2015
(Courtesy of The Wall Street Journal)

(Courtesy of The Wall Street Journal)


South Koreans may attain the same level of wealth as Americans and Japanese currently enjoy in a decade, according to a Seoul-based think tank.

In a new report, the Hyundai Research Institute says South Korea’s per capita gross national income–the sum of gross domestic product per person plus net income received from overseas—will hit $50,000 by 2024 if the country keeps achieving its current growth potential of mid-3% GDP expansion. South Korea’s per capita GNI was $26,205 in 2013.

The U.S. had per capita GNI of $53,470 in 2013, while in Japan it was $46,330, according to the World Bank. In Switzerland it was a whopping $90,760.