Bloomberg forecasts South Korea will join the list of top 30 richest countries in terms of per capita income in five years.

In its analysis of International Monetary Fund(IMF) data released on Monday, Bloomberg said the country's per capita Gross Domestic Product(GDP) in terms of purchasing power parity(PPP) will be 49-thousand-772 U.S. dollars in 2022.

It will rank South Korea 29th in the world, up by as many as 19 notches from 30 years earlier. South Korea was 48th in 1992 with nine-thousand-123 dollars per capita GDP.