Nation likely requires 10 years to achieve USD 30,000 per capita income.

By bne IntelliNews October 30, 2012
South Korea is likely to require about ten years to achieve per-capita income of USD 30,000 due to low growth trend and other economic structural problems. As reported by Yonhap English News, according to a report by the Hyundai Research Institute, the country's per-capita gross domestic product (GDP) increased on an annual average of 1% annually from 2007 to 2011. The per-capita income surpassed the USD 20,000 mark for the first time in 2007, as the growth rate has remained stagnant over the past years.

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