Seoul ranked No. 1 in per capita personal income among the nation's 17 cities and provinces last year. It marked the ninth straight year, with the income gap between the greater Seoul area and non-capital regions still pronounced.
According to the "2024 regional income (preliminary)" that the Ministry of Data and Statistics (MODS) released on the 23rd, last year's national per capita personal income (household gross disposable income divided by population) was 27.82 million won, up 5.5% from a year earlier.
By region, Seoul was highest at 32.22 million won. Ulsan followed at 31.12 million won, and Daejeon ranked third at 28.75 million won. Jeju, by contrast, was the lowest nationwide at 24.61 million won, and North Gyeongsang (24.86 million won) and South Gyeongsang (25.06 million won) also fell below the national average.
The gap between Seoul and the lowest region widened from a year earlier. In 2023, the per capita personal income gap between Seoul and Jeju was 6.48 million won, but it expanded to 7.61 million won last year. The structure of high incomes concentrating in the capital area and some large cities continues.
An official at the Ministry of Data and Statistics (MODS) said, "Last year, property income such as deposits interest and stock dividends for residents rose sharply in Seoul compared with other regions."
The national household gross disposable income aggregates totaled 1,440 trillion won, up 76 trillion won (5.5%) from a year earlier. Some capital-area and other regions—Sejong (7.2%), Incheon (7.1%), and Gyeonggi·Seoul (6.0%)—posted a growth rate above the national average. Jeju (3.5%), North Gyeongsang (3.6%), and North Jeolla (4.2%), by contrast, saw relatively smaller increases.
Income flows across regions also continued. National regional gross income reached 2,598 trillion won last year, up 6.2%, with Seoul and Gyeonggi recording net inflows of 73 trillion won and 44 trillion won, respectively. South Chungcheong (-33 trillion won), North Gyeongsang (-21 trillion won), and Ulsan (-20 trillion won) were net outflow regions.
Meanwhile, national gross regional domestic product (GRDP, nominal) was 2,561 trillion won last year, up 6.2% from a year earlier. The share of the capital region (Seoul·Gyeonggi·Incheon) exceeded half at 52.8%. The real growth rate was 2.0%, with increased output in manufacturing, transportation, and finance and insurance driving growth.