Key facts
- South Korea's GNI per capita is projected to reach US$40,000 in 2026.
- The economy grew 1% in the third quarter.
- Exports and investment drove third-quarter growth.
South Korea is 'almost certain' to reach a gross national income (GNI) per capita of US$40,000 this year, the finance ministry said Tuesday. The assessment followed the release of advance third-quarter data from the Bank of Korea, which showed the economy grew 1 percent from the previous three-month period, driven by strong exports and investment. The country's per capita GNI first surpassed the $30,000 mark in 2014. The International Monetary Fund also projected South Korea's per capita GNI would reach the $40,000 level in 2026 and $50,000 in 2028. Finance Minister Lee Hyoung-il said this month South Korea's economic growth for 2026 could range from 3.4 percent to 3.6 percent.