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[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)

[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.

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