Korea's per-capita gross national income hit $22,720 in 2012, its highest level in 10 years, the Ministry of Strategy and Finance on Sunday.

The ministry estimated last year's nominal GNI to be $118.7 billion, based on the assumption that the country's nominal GDP expanded by 3.2 percent.

Last year's per-capita GNI was almost double the rate recorded in 2002, when it stood at $12,100, and up one percentage point from 2011. This means people's incomes failed to keep pace with the country's economic growth last year.