Due to the sluggish economy, the country's per-capita gross domestic product is estimated to inch up only marginally compared to last year.

Per-capita GDP is expected to stand at US$22,700, up 1.3 percent from 2011, based on a report by the Korea Investment and Securities Company.

The report cited low inflation and the overall weakness of the won against the U.S. dollar for the slow growth.

Korea's per-capita GDP surpassed the $20,000 mark for the first time in 2007 but fell below for two years following the 2008 global financial crisis.