The Bank of Korea estimates that South Korea's per capita income surpassed 31-thousand dollars last year.

The head of the bank’s Economic Statistics Department, Park Yang-soo, revealed the assessment on Tuesday, saying the estimate was made after taking into account real economic growth and exchange rates.  

In 2017, the nation’s gross national income(GNI) per capita had reached 29-thousand-745 dollars.  

South Korea's GNI per capita topped 20-thousand dollars in 2006 but it then took more than ten years to exceed the 30-thousand mark as the nation was hit by the global financial crisis. 

Park was quick to add, however, that there could be an alteration to the latest GNI estimate given that the nominal gross domestic product has yet to be announced.