Korea may attain the goal of per capita gross domestic product of $30,000 by around 2017, analysts predicted on Thursday. Surpassing the $30,000 mark is widely regarded as a yardstick to determine if a country is advanced.
But the analysts said whether the nation will be able to attain the feat depends on sustained economic growth and the pace of the local currency’s gain.
Analysis has it that the Korean currency should appreciate about 33 percent to the U.S. dollar from the current level.
The International Monetary Fund offered a similar outlook for Korea in October 2012. The IMF said having surpassed the $20,000 mark in per capita GDP back in 2007, Korea could achieve the $30,000 goal sometime in 2016 or 2017.
Among countries with a population over 50 million, only six countries ― the United States, Japan, Germany, France, the United Kingdom and Italy ― have broke the $30,000 line so far.
By Chung Joo-won (email@example.com