3050클럽은 인구 5천만 명 이상에 1인당 국민소득(GNI)이 3만 달러 이상인 국가
Korea sees highest growth among OECD's '30-50' club members
Mar 11, 2019
The Organization for Economic Cooperation and Development (OECD) says Korea in last year's fourth quarter posted the highest economic growth among the group's seven member countries that had a population of over 50 million and per capita gross national income of more than USD 30,000. (Screen capture from OECD website)
By Jung Joori and Kim Hwaya
The Organization for Economic Cooperation and Development (OECD) says Korea in last year's fourth quarter posted the highest economic growth among the seven countries in the so-called 30-50 club, or those with per capita gross national income (GNI) surpassing USD 30,000 and a population of over 50 million.
According to OECD data released on March 8, the Korean economy expanded 0.97 percent in last year's final quarter and its overall growth last year of 2.7 was also the second highest among the seven, following that of the U.S. (2.9 percent), and higher than the OECD average of 2.4 percent.
The Bank of Korea said the positive result was due to a complex interaction among recovery in private consumption, expansion of government spending, rise in exports and decrease in construction investment.
The OECD also forecast 2.6 percent growth for Korea this year, tied with the U.S. as the highest among the seven countries, and the same rate next year.
etoilejr@korea.kr
S. Korean Per Capita Income Surpasses US$30,000 Threshold
Write: 2019-03-05 13:47:57/Update: 2019-03-05 16:06:40
Photo : YONHAP News
Kim Bum-soo has more.
Report: The total amount of money an average person in South Korea earns a year has surpassed 30-thousand dollars for the first time.
According to the 2018 tally the Bank of Korea released on Tuesday, the nation's per capita gross national income, or GNI, reached 31-thousand-349 dollars in 2018, which is a five-point-four percent increase from 29-thousand-745 dollars the previous year.
Widely considered an indicator of living standards, the GNI per capita is a nation's total income earned at home and abroad divided by its total population.
It took 12 years for Asia's fourth largest economy to reach the threshold since it broke the 20-thousand dollar mark in 2006.
The central bank stressed that South Korea is only the seventh country to join the so called "30-50 club" of advanced economies with a population of over 50 million and GNI above 30-thousand U.S. dollars. Besides South Korea, only the U.S., Japan, Germany, France, the U.K. and Italy meet the standard.
Among economies with populations of over 20-million, South Korea's per person GNI stands at eleventh, with the U.S. topping the list followed by Australia and the Netherlands.
Despite surpassing the GNI milestone, the Korean economy last year saw the slowest on-year growth since 2012.
In terms of growth of gross domestic product, or GDP, the central bank confirmed that the economy expanded two-point-seven percent last year due to sluggish corporate investment.
Kim Bum-soo, KBS World Radio News.