Seoul, March 10: According to data from the central bank, South Korea’s per capita income increased by 0.3 percent in 2025, reaching $36,000. This growth was tempered by the depreciation of the Korean won against the US dollar, which balanced out the real income gains.
Preliminary figures from the Bank of Korea indicate that the nominal per capita gross national income (GNI) stood at $36,855, reflecting a 0.3 percent rise compared to the previous year.
As reported by the Yonhap News Agency, the Korean won GNI rose to 52.42 million won in 2025, marking a 4.6 percent increase from the prior year.
This figure first surpassed $30,000 in 2014 and has been on a steady rise, reaching nearly $38,000 in 2021. However, it dipped to $35,000 in 2022 before rebounding to $36,195 in 2023. The growth slowed to 1.5 percent in 2024 and just 0.3 percent in 2025, maintaining the $36,000 level for the third consecutive year.
The nominal gross domestic product (GDP) grew by 4.2 percent to 2,663.3 trillion won in 2025. However, due to the weaker won, it fell by 0.1 percent in dollar terms to $1.87 trillion.
According to the central bank, the Korean won depreciated by 4.3 percent against the dollar last year. This decline was attributed to an imbalance in foreign exchange supply and demand, along with significant foreign securities investments by local investors.
Kim Hwa-young, head of the national income department at the Bank of Korea, noted that Taiwan’s per capita GNI reached $40,585 in 2025, benefiting greatly from its semiconductor industry.
He also mentioned that Japan’s per capita GNI rose to $38,000 in December 2025 after a base-year revision. Among countries with populations exceeding 50 million, South Korea ranks sixth, following the United States, Germany, the United Kingdom, France, and Italy.
Officials stated that if there are no new impacts on the won-dollar exchange rate, South Korea’s per capita GNI could surpass $40,000 by 2027.
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