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GDP per capita (US$) [6] 1 Ulsan: US$ 60,636 2 South Chungcheong Province: US$ 50,351 3 Seoul: US$ 43,411 4 South Jeolla Province: US$ 43,317 5 North Chungcheong Province: US$ 40,303 6 North Gyeongsang Province: US$ 37,483 – South Korea: US$ 35,190 7 Gyeonggi Province: US$ 33,973 8 Sejong: US$ 33,342 9 South Gyeongsang Province: US$ 29,750 10
The economy of South Korea is a highly developed mixed economy. [19] [20] [21] By nominal GDP, the economy was worth ₩2.61 quadrillion (US$1.87 trillion).It has the 4th largest economy in Asia and the 12th largest in the world as of 2024. [3]
South Korea, [c] officially the Republic of Korea (ROK), [d] is a country in East Asia. It constitutes the southern half of the Korean Peninsula and borders North Korea along the Korean Demilitarized Zone. The country's western border is formed by the Yellow Sea, while its eastern border is defined by the Sea of Japan.
Following the Korean War, South Korea remained one of the poorest countries in the world for over a decade. Marred by poverty, malnutrition, and illiteracy, political chaos, and cultural discourse, South Korea's gross domestic product per capita in 1960 was $79, [120] lower than that of some sub-Saharan African countries.
Gallup – Median per-capita income: 2013 & 15 & 131 World Bank – Ease of Doing Business Index: 2016 & 4 & 183 The World Factbook – Exports: 2014 & 5: 194 The World Factbook – Imports: 2014 & 7: 194 IMF – GDP (Nominal) 2016 & 11: 179 IMF – GDP (PPP) 2016 & 13: 180 IMF – GDP per capita (Nominal) 2014 & 29: 180 IMF – GDP per capita ...
This subsequently led to a rapid growth in per capita income levels. While high investments were essential to their economic growth, the role of human capital was also important. Education in particular is cited as playing a major role in the Asian economic miracle.
This is a list of countries by nominal GDP per capita. GDP per capita is often considered an indicator of a country's standard of living; [1] [2] however, this is inaccurate because GDP per capita is not a measure of personal income. Measures of personal income include average wage, real income, median income, disposable income and GNI per capita.
Countries by nominal GNI per capita according to the Atlas method (2018) This is a list of countries by gross national income per capita in 2023 at nominal values, according to the Atlas method, an indicator of income developed by the World Bank. [1] The GNI per capita is the dollar value of a country's final income in a year, divided by its ...