South Korea’s 2025 GNI Hits ₩52.4M, Yet Stuck at $36,855 as Won Weakens

South Korea’s per-capita national income barely increased last year, showing how exchange rates can significantly affect global income comparisons.

South Korea’s 2025 GNI Hits ₩52.4M

According to the Bank of Korea, South Korea’s gross national income (GNI) per person reached $36,855 in 2025, up just 0.3% from $36,745 in 2024. This marks the third consecutive year the country has remained in the $36,000 range.

💰 Income actually rose in Korean won

In local currency, the situation looks much stronger.

• Per-capita GNI in Korean won: ₩52.42 million, up 4.6% year-on-year.

However, the Korean won weakened against the U.S. dollar, which reduced the increase when converted into dollars.

📉 Exchange rate impact

• The won–dollar exchange rate rose about 4.3% last year (meaning the won weakened).
• Because global income comparisons use USD, the currency effect wiped out most of the income growth seen in Korean won.

In short: Koreans earned more in won, but the weaker currency made the gain look much smaller in dollars.

🌏 Regional comparison

• 🇹🇼 Taiwan: $40,585 per capita GNI
• 🇯🇵 Japan: Low $38,000 range
• 🇰🇷 South Korea: $36,855

Taiwan moved ahead thanks to its large semiconductor-driven IT manufacturing sector, which benefited strongly from the global chip boom.

📊 Other key economic indicators

• Real GDP growth (2025): 1.0%
• Manufacturing growth: –1.5%
• Services growth: +0.6%
• Construction sector: –4.5%

📈 Economists say that if exchange rate pressure eases, South Korea could surpass the $40,000 per-capita income milestone around 2027.