Last year, Seoul recorded the highest per capita personal income among the country's 17 cities and provinces. It has been ranked first for eight consecutive years.
According to the '2023 Regional Income (Provisional)' released by Statistics Korea on the 20th, the national per capita personal income (nominal) stood at 25.54 million won, an increase of 560,000 won (2.3%) from the previous year. Per capita personal income refers to the annual income obtained by dividing the total disposable income of households and nonprofit institutions serving households by the regional population.
By region, Seoul had the highest amount at 29.37 million won, followed by Ulsan (28.1 million won) and Daejeon (26.49 million won). The lowest amounts were recorded in South Gyeongsang (22.77 million won), Jeju (22.89 million won), and North Gyeongsang (22.92 million won) in that order.
In 2023, the national regional gross income (nominal) was 2,446 trillion won, an increase of 91 trillion won (3.8%) from the previous year. The gross regional income was overwhelmingly high in Gyeonggi (660 trillion won) and Seoul (620 trillion won). South Gyeongsang came in third at 127 trillion won. The regions with the lowest gross regional income were Sejong (18 trillion won), Jeju (25 trillion won), and Gwangju (56 trillion won) in that order.
The national average per capita gross regional product (nominal) was 46.49 million won, an increase of 1.45 million won (3.2%) from the previous year. Ulsan had the highest per capita gross regional product at 81.24 million won, followed by South Chungcheong at 64.71 million won and Seoul at 58.25 million won.
Daegu (30.98 million won), Busan (34.76 million won), and Gwangju (35.45 million won) were far below the national average.
Regional growth rates in Incheon (4.8%), Daejeon (3.6%), and Ulsan (3.2%) increased due to growth in the transportation, construction, and manufacturing sectors. In contrast, North Chungcheong (-0.4%) and North Jeolla (-0.2%) saw declines due to reduced manufacturing and agriculture, forestry, and fishing.