Korea to join ranks of advanced countries by 2018: Moody'sUpdated: 2014-05-30 06:29:31 (KST)
Global credit rating agency Moody's says Korea will join the ranks of advanced economies by 2018.
Speaking to reporters in Seoul Thursday, Moody's senior vice president Thomas Byrne said Korea will catch up to countries like France, in terms of GDP per person in just three to four years time.
He attributed the development to Korea's government policies and competitiveness.
Adding that Korea has maintained more rapid growth compared to other G20 nations, Byrne said he expects the country's GDP to grow 3.8 percent this year.
That's slightly higher than recent predictions by local private and state-run think tanks.
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