South Korea’s per capita GNI tops US$30,000 in 2018

March 11, 2019

SEOUL - Korea's per capita gross national income (GNI) exceeded US$30,000 last year, 12 years after breaking the US$20,000 mark in 2006, the Bank of Korea said. The central bank said per capita GNI was US$31,349 in 2018, up 5.4% from US$29,745 in 2017.

Per capita GNI is an indicator reflecting the standard of living and income of a country.

Shin Seung-chul, director of the bank's national accounts division, told a news briefing: "The achievement of per capita GNI of US$30,000 is commonly acknowledged as a barometer of advanced nation status.

"The per capita GNI of US$30,000 means that Korea's economic activity last year was at the level of advanced countries."

Shin said South Korea must focus on resolving structural problems facing its economy to ensure continuous economic growth." (ATI).