South Korea’s per capita gross national income is highly likely to exceed $40,000 this year, or approximately 54 million won, if the won’s stabilization continues. The currency closed at 1,345.6 won per dollar on September 9, supported by exporter dollar sales, shipbuilders’ and heavy-industry companies’ order backlogs, a large current-account surplus, narrowing interest-rate differentials and a stronger yen. Second-quarter real GNI rose 3.1% quarter on quarter and 15.6% year on year, while nominal GNI increased 8.8% quarter on quarter; real GDP grew 0.6% quarter on quarter and 3.7% year on year. Semiconductor-led export-price gains sharply improved the terms of trade, helping nominal GDP rise 26.4% year on year, its fastest pace since the third quarter of 1979. The Bank of Korea raised its 2026 growth forecast to 3.3% and its Base Rate by 25 basis points to 3.00% on August 27, while the Korea Development Institute forecast 3.2%. Analysts said the outlook depends on whether chip-driven income becomes productive investment and broader household earnings, with importer dollar demand and long-term overseas investment outflows posing risks to the won’s gains.