The combined economic size of Seoul and nearby Incheon and Gyeonggi Province exceeded half of the national economy for the first time last year.

Statistics Korea said Friday Seoul's gross regional domestic product(GRDP) or value of goods and services produced in the city totaled 372-point-one trillion won last year, or 21-point-five percent of the country's gross domestic product(GDP).

Gyeonggi Province's GRDP was more than 414 trillion won or 23-point-nine percent of the national GDP, while Incheon's was 84 trillion won or four-point-nine percent.

Out of 16 cities and provinces nationwide, Seoul had the highest annual individual income for the second consecutive year of 21-point-42 million won, followed by Ulsan with an annual income of 19-point-91 million won.

South Jeolla Province had the lowest income level of 15-point-94 million won, less than the national average of 18-point-45 million.