IMF: “South Korea’s per capita GDP likely to be surpassed by Taiwan”

The International Monetary Fund (IMF) projected in its World Economic Outlook report that South Korea’s per capita GDP is expected to fall three places from 34th in the world last year to 37th this year. In contrast, Taiwan is expected to rise from 38th to 35th, surpassing South Korea for the first time in 22 years. The IMF also anticipated that South Korea would reach a per capita GDP of $40,000 by 2028, although it predicted that the country’s global ranking would continue to decline.