Korea`s 2012 per-capita GDP remains flat at $22,705

Korea’s per-capita GDP this year is likely to remain about the same as last year’s. As China and major economies such as the U.S. and European countries have struggled to make ends meet, Korea’s economic growth is expected to stay low at around 2 percent.

The 2012 per-capita GDP figure is estimated to finish at 22,705 U.S. dollars, up 1.3 percent from last year, according to a report released by Korea Investment & Securities on Sunday. This figure was lower than the International Monetary Fund’s forecast of 23,021 dollars in October, which was calculated with using the average growth of 2.3 percent forecasted by securities companies at home and abroad in late November.

Korea’s vicious cycle of low growth is mainly blamed for the flat growth. The Korean government said on Thursday 2012`s real growth rate is expected to be 2.1 percent.

balgun@donga.com