Last year, Seoul residents earned 23.44 million won per capita … 22.5 million won Ulsan ranked second

Check-in 2020.12.23 12:00

Gyeongbuk, the lowest personal income per capita at 18.62 million won

Last year, the per capita personal income of Seoul residents was 23.44 million won, the highest in the country. The region with the lowest per capita personal income was Gyeongbuk, which was just 18.62 million won.

According to preliminary regional income data for 2019 released by the National Statistical Office on the 23rd last year, the national per capita (nominal) personal income was 20.4 million won. Personal income is the income that households and non-profit organizations serving households may dispose of at random and is an indicator of the purchasing power of households.

After Seoul, the regions with the highest per capita personal income were Ulsan (22.5 million won) and Gwangju (2.053 million won). Ulsan ranked first in personal income rankings in 2016, but as industry conditions, such as the shipbuilding industry, deteriorated and the regional economy was sluggish, it gave Seoul the first place in 2017 and has held the second place for three consecutive years.

Regions with low personal income per capita were on the order of Gyeongbuk (18.61 million won), Jeonnam (1871 million won), Jeonbuk (1873 million won), and Jeju (1873 million won).

Per capita private consumption exceeded the national average (17.96 million won) in Seoul (21.89 million won) and Ulsan (18.48 million won). However, Chungbuk (15.8 million won), Jeonbuk (1.62 million won) and Chungnam (16.40 million won) fell short of the national average.

National (nominal) gross domestic product was 1,924 trillion won, an increase of 21 trillion won (1.1%) from 2018. Gyeonggi-do was the largest at 478 trillion won, followed by Seoul ( 433 billion won) and Chungnam (115 billion won). Sejong (12 trillion won), Jeju (20 trillion won), and Gwangju (41 trillion won), in that order, had the lowest gross domestic product.

Sejong (6.7%) was the region with the highest real rate of increase or decrease in gross domestic product. In the public administration industry, 15.2% increased, higher than the national average (2.1%). Jeju (0.9%) and Daegu (1.2%) increased below the national average as the construction and manufacturing industries declined.