Chip boom puts Korea's per capita GDP within reach of $40,000

Korea’s per capita gross domestic product is on track for its largest increase in five years this year amid the global semiconductor boom, bringing the country close to the $40,000 threshold, government data showed Sunday.

If the average won-dollar exchange rate declines in the second half of the year, Korea’s per capita GDP could surpass $40,000 for the first time this year.

According to data provided by the Ministry of Finance and Economy and the Bank of Korea, the country’s per capita GDP is projected to reach $39,164 this year, up $2,750, or 7.6 percent, from a year earlier, marking the largest annual increase since 2021, when it jumped 11.5 percent.

The estimate is based on the government’s announcement last week that nominal GDP is expected to grow 12.3 percent this year, the fastest pace since 1996, driven by a semiconductor-led export surge.

Based on the government’s 2025 nominal GDP estimate of 2,676.7 trillion won ($1.8 trillion), this year’s nominal GDP is projected to rise to 3,005.9 trillion won.

Converted into U.S. dollars using the average won-dollar exchange r ...