TAIPEI (TVBS News) — Taiwan's GDP per capita surpassed South Korea's for the first time since 2003, reaching US＄32,625 in 2022 compared to South Korea's US＄32,410, according to the Directorate General of Budget, Accounting and Statistics (DGBAS) on Tuesday (Dec. 26).
DGBAS officials attributed Taiwan's economic victory to its higher growth rate in recent years and the greater depreciation of South Korea's won.
Since South Korea overtook Taiwan's GDP per capita in 2003, Taiwan had been trailing as the last of the "Four Asian Tigers," but the gap between the two has persistently shrunk in recent years.
In financial market news, Taiwan's stock index also advanced beyond Hong Kong's for the first time in nearly 31 years on Nov. 29, with the Taiwan Stock Exchange index closed at 17,370 points, outpacing the Hang Seng Index, which was weighed down by China's low-earning equities, closed at 16,993.
