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Korea's national household wealth report out

Updated: 2014-05-15 03:45:59 (KST)
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Korea's national household wealth, in terms of purchasing power is roughly 60-percent of that of the U.S., and 80 percent of Japan's.
A report released by the Bank of Korea and Statistics Korea Wednesday, shows Korea's national wealth or net asset, as of 2012, stood at 10.6 quadrillion won, or over 9.4-trillion U.S. dollars -- 7.7 times that of the nation's gross domestic product.
This is relatively high on the scale of national net asset to GDP ratio; France stands at 6.7, Japan at 6.4 and Canada at 3.5.
When the nation's net asset is broken down to the individual level it amounts to 2-hundred-and-seven-thousand U.S. dollars per person.
The nation's wealth can be calculated by deducting debt from assets, and this is the first time that Korea has drawn up a figure for a balanced sheet based on international standards.

The latest figures prove that the nation's economic structure has matured to the level of developed countries.
Shin Se-min, Arirang News.


Reporter : ashin@arirang.co.kr

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fatboyme (USA) MAY 15, 2014    

Very good.