A parliamentary report shows that South Korea’s per capita gross domestic product(GDP) is expected to reach the 30-thousand dollar threshold in 2018.

The National Assembly Budget Office(NABO) said on Tuesday that the country’s GDP per person, which was 27-thousand-214 dollars in 2015, will jump to 31-thousand-744 dollars in 2018.

The International Monetary Fund(IMF) earlier predicted that South Korea’s per capita GDP won’t reach 30-thousand dollars until 2020.

The NABO calculated the per capita income trend, presuming South Korea’s real GDP growth rate is two-point-six percent this year, two-point-eight percent next year and two-point-nine percent in 2018.

According to the NABO, South Korea’s per capita GDP will surpass 30-thousand dollars, 12 years after it reached the 20-thousand dollar mark. Member states of the Organization for Economic Cooperation and Development(OECD) spent eight-point-two years, on average, in seeing their per capita income move beyond the 20-thousand dollar range.

The NABO also predicted the strengthening of the won against the U.S. dollar over the course of three years, estimating the won-dollar exchange rate will drop from one-thousand-155 this year to one-thousand-110 next year and to one-thousand-81 in 2018.

The country’s population was estimated to grow from 50-point-eight million this year to 50-point-98 million next year and to 51-point-29 million in 2018.