South Korea’s GDP Drops in 2015
David Lee, March 2, 2016, 7:42 a.m.
Korea's per-capita GDP last year is estimated to have decreased for the first time since the global financial crisis. According to figures released by Hyundai Research Institute on Tuesday, per-capita GDP in 2015 stood at slightly over US$27,200, a 2.6 percent drop from the previous year. This is the first decline since 2009, when Korea recorded a more than 10 percent on-year drop.
Japan's also saw an on-year decline of some 10 percent, while countries like the U.S., China and India saw their per-capita GDP grow. Citing figures from the IMF, the institute said over 70 percent of 186 countries posted an on-year decrease in their per capita GDP due to a sluggish global economy and strong U.S. dollar.