Published : Dec. 16, 2014 - 21:36
South Korea’s nominal gross national income has increased about 30,000-fold in 60 years from 48.3 billion won ($44 million) to 1,441 trillion won, according to the adjusted national accounts released by Bank of Korea on Monday.
The GNI per capita has gone up about 400-fold from $67 to $26,205.
The results showed that the proportion of households in GNI has been gradually decreasing from 79 percent in 1975 to 61 percent last year, while that of corporations jumped from 9 to 26 percent.
Meanwhile, the government accounted for 13.1 percent of the GNI, up from 11.5 percent.
The national accounts measure the economic activity of a nation, and they were adjusted based on the United Nations’ new international standard for measuring the nation’s economic flow from 1953 to 2013.