US EditionKorea to lag behind Taiwan in GDP per capita for 1st time in 22 years
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2 Articles
Korea to lag behind Taiwan in GDP per capita for 1st time in 22 years
Taiwan is expected to overtake Korea in per capita GDP this year, data showed Sunday. The reversal after 22 years is explained by Korea’s weakening growth momentum coupled with Taiwan’s rise as a technological and economic powerhouse in the global economy. As a benchmark for economic performance, higher per capita GDP often implies a more productive economy, but it does not measure income inequality. The development underscores Korea’s declining…
South Korea's per capita GDP is expected to be overtaken by Taiwan's this year. This marks the first reversal in 22 years since 2003. Citing government and Taiwan's National Statistical Office data, Yonhap News reported on the 14th that South Korea's per capita GDP this year is projected to be $37,430, while Taiwan's is projected to be $37,430.
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