GNI per capita 'almost certain' to reach $40,000 in 2026: finance ministry
Korea is "almost certain" to reach a gross national income (GNI) per capita of $40,000 this year, the finance ministry said Tuesday, as Asia's No. 4 economy grew 1 percent in the third quarter from the previous three-month period, driven by strong exports and investment. The Ministry of Finance and Economy made the assessment following the release of advance third-quarter data from the Bank of…
Korea is on track to achieve a gross national income (GNI) per capita of $40,000 this year, according to the finance ministry, as the Asian nation's fourth-largest economy grew by 1 percent in the third quarter, buoyed by robust exports and investment. The Ministry of Finance and Economy reached this conclusion following the Bank of Korea's (BOK) advance third-quarter data release, marking a significant milestone as the country's per capita GNI surpassed the $30,000 mark in 2014.
Despite a high base effect from the first half of the year, Korea's solid growth suggests the possibility of reaching a mid-3 percent growth range throughout 2026, stated the finance ministry. Finance Minister Lee Hyoung-il predicts Korea's economic growth for 2026 could range from 3.4 percent to 3.6 percent. The finance ministry further announced that the GNI per capita is almost certain to reach the $40,000 threshold for the first time in history.
The International Monetary Fund (IMF) recently projected a similar milestone, forecasting Korea's per capita GNI to reach $40,000 by 2026 and $50,000 by 2028.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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