A forecast said Korea's real gross domestic product (GDP) per capita will trail Taiwan's by more than $10,000 in five years. Taiwan surpassed Korea's GDP last year, and the gap is expected to widen each year.
According to the financial sector on the 19th, the International Monetary Fund (IMF) projected in its World Economic Outlook report that Korea's per capita GDP this year will be $37,412. That is up 3.3% from last year ($36,227).
However, it is about $100 lower than the 2026 projection ($37,523) presented in Oct. last year. The rise in the won-dollar exchange rate appears to be the reason. It also said Korea's per capita GDP will top $40,000 in 2028.
By contrast, Taiwan's per capita GDP is expected to top $40,000 this year. The IMF said Taiwan's per capita GDP will increase from $39,489 last year to $42,103 this year. It also said it will reach $50,370 in 2029.
Accordingly, the per capita GDP gap between Korea and Taiwan is $4,691 in 2026, $5,880 in 2027, $6,881 in 2028, $7,916 in 2029, and $9,073 in 2030. The gap widens each year. It also said that in 2031, Korea will be at $46,019 and Taiwan at $56,101, widening the per capita GDP gap between the two countries to more than $10,000.
Meanwhile, the IMF said Japan's per capita GDP this year will be $35,703, down about $300 from last year ($35,973). It projected that the point when Japan's per capita GDP exceeds $40,000 will be 2029, one year later than Korea.