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South Korea's per capita gross national income (GNI) surpassed US$20,000 for the first time in 2007, according to the Bank of Korea, ranking between 41st and 49th in the world. During the 1980s and 90s, any country with per capita income of over $20,000 was considered an advanced nation. These days that benchmark is $30,000.
According to the results of a World Bank survey of 2006 GNI released on Sunday, Luxembourg topped the list of 209 countries with per capital GNI of $76,040. Burundi ranked lowest with $100.
Greece finished 40th with $21,690 and South Korea was 49th with $17,690. The Asian territories with per capita income higher than South Korea in 2006 were Japan ($38,410), Singapore ($29,320), and Hong Kong ($28,460).
South Korea was estimated to rank lower than 41st in 2007 with per capita GNI of $20,045. The World Bank has yet to compile its survey for 2007.
However, South Korea's per capita income level was very low compared with its economic size as the country's GDP ranked as the world's 13th largest in 2006.
(englishnews@chosun.com )
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