Korea's GDP per capita to trail Taiwan by over $10,000 within 5 years: IMF

Korea’s real gross domestic product (GDP) per capita is expected to trail Taiwan’s by more than $10,000 within five years, according to the International Monetary Fund (IMF). Having lost its lead over Taiwan for the first time in 22 years last year, Korea is likely to see the gap widen each year, reducing the chances of a reversal. According to officials of the Bank of Korea and other financial authorities Sunday, the IMF estimated Korea’s GDP per capita at $37,412 this year, up 3.3 percent from $36,227 a year earlier, in its World Economic Outlook released Wednesday. The global lender expects the country to surpass the $40,000 mark in 2028, reaching $40,695. It had initially projected this milestone for 2029 in its April 2025 report, but brought the timeline forward by one year in its October update and maintained that view in the latest report. Taiwan is expected to reach the threshold sooner. Its GDP per capita is projected to rise 6.6 percent, from $39,489 last year to $42,103 this year, allowing it to exceed $40,000 ahead of Korea. Taiwan is also set to maintain strong growth m

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