The International Monetary Fund says Korea′s per capita GDP will top 30－thousand U.S.
dollars by next year，... and get very close to Japan′s by 2020.
However，... experts say that Korea，... flanked on either side by Japan and China，...
will have to reform its industrial structure to stay competitive.
Park Se－young reports.
In five years， Korea′s GDP per capita will rise to nearly 37－thousand U.S. dollars…drawing
close to that of Japan′s.
According to the IMF′s World Economic Outlook database， the nation′s per capita GDP
will reach 36，750 dollars in 2020，… a 31－percent rise from last year′s 27，970
dollars.
Japan′s per capita GDP is forecast to see a six－percent rise over the same period
to slightly over 38－thousand dollars.
In 2005， the GDP per capita of Japan was nearly two times that of Korea′s.
Last year， Korea′s per capita GDP adjusted to purchasing power parity came in at 35 thousand
400 dollars，... close to Japan′s 37－and－a－half thousand dollars.
In 2018， Korea′s numbers are forecast to overtake Japan′s.
The latest figures show Korea is narrowing the economic gap with Japan.
Last year， Japan′s GDP was four－point－six trillion dollars three times bigger than Korea′s.
According to the IMF′s database， Korea′s 2014 GDP of one－point－four trillion dollars
will rise to one－point－nine trillion dollars in 2020 …reducing the gap to two－point－four
times.
In this year′s IMD World Competitiveness Ranking， Korea climbed one notch to 25th，
while Japan tumbled six spots to 27th.
Meanwhile， the economic gap between China and Korea is expected to widen from just over
seven times last year to nine times in 2020.
Experts say Korea will have to stay competitive by reforming its industrial structure and
developing highly profitable products to ensure it keeps pace with the Japanese and Chinese
economies over the next five years.
Park Se－young， Arirang News.