South Korea's Per Capita GDP Faces Significant Drop

The International Monetary Fund (IMF) has estimated South Korea's per capita GDP at $34,642 this year, marking a 4.1 percent decrease from last year's $36,129, according to its latest World Economic Outlook report.

Population Decline Fails to Offset Economic Slowdown

Despite a projected population decrease of 0.13 percent this year, the decline in per capita GDP highlights South Korea's struggle with a deepening low growth cycle.

South Korea to Fall Behind Taiwan in Per Capita GDP

The IMF forecasts that South Korea will lag behind Taiwan in per capita GDP by 2026, a first in 24 years, with the gap expected to widen through 2028.

Growth Rates Lag Behind Regional Competitors

With projected growth rates of 1.0 percent this year and 1.4 percent next year, South Korea trails behind Taiwan's 2.9 percent and 2.5 percent, respectively.

Experts Warn Against Complacency

Experts caution that the depreciation of the Korean won and weakening industrial competitiveness could exacerbate the economic challenges, urging for significant reforms.