Finance Minister Koo Yun-cheol said Thursday that Korea is showing clearer signs of economic recovery and that GNI per capita is on course to exceed $40,000 this year. He said nominal GDP grew at its fastest pace in 47 years in the second quarter. Economy-related ministers also discussed steel industry revamping, vacant space in knowledge industry centers for public housing, and trade-related financial crimes.
Finance Minister Koo Yun-cheol speaks during a meeting with economy-related ministers, Thursday. Yonhap
Korea is showing clearer signs of economic recovery, with its gross national income (GNI) per capita on course to exceed $40,000 this year, the finance minister said Thursday.
Finance Minister Koo Yun-cheol made the remarks during a meeting of economy-related ministers, noting nominal gross domestic product (GDP) in Asia's No. 4 economy grew at its fastest pace in 47 years in the second quarter.
GDP measures production within a country, while GNI refers to the total income earned by its residents at home and abroad.
