South Korea poised to hit $40,000 GNI per capita in 2026, ministry says

According to advance data from the Bank of Korea, South Korea's economy grew 1% in the third quarter, driven by robust exports and investment, prompting the Ministry of Finance and Economy to deem a GNI per capita of US$40,000 in 2026 "almost certain." Finance Minister Lee Hyoung-il indicated that total economic growth could fall between 3.4% and 3.6% this year. The International Monetary Fund has independently projected the same $40,000 milestone for 2026 and anticipates $50,000 by 2028.

While the outlook is positive, the ministry highlighted ongoing structural issues, including rising livelihood concerns and uneven development across regions. It pledged to address these gaps so that the benefits of growth reach ordinary citizens. The assessment follows the country's first surpassing of the $30,000 GNI per capita mark in 2014.