In 2022, the gross regional domestic product (GRDP) per capita in Ulsan, South Korea amounted to about 77.5 million South Korean won. The province of Chungnam and the capital city of Seoul followed with about 58.9 million and 51.6 million South Korean won, respectively.

The most expensive area in Seoul, South Korea as of December 2024 was Gangnam-gu with an average apartment selling price of around 2.4 billion South Korean won. The Gangnam area, which includes Gangnam-gu, Seocho-gu, Yongsan-gu, and Songpa-gu, is one of the richest neighborhoods in South Korea. What is Gangnam Style?Gangnam has developed greatly since the 1960s with intensive government investment. It literally means 'south of the Han River' and is one of the busiest entertainment districts including Hongdae and Itaewon. Gangnam is also known as a place where people with a high level of education or wealth live. These backgrounds motivated Psy, the well-known Korean singer, rapper, and songwriter, to write his internationally popular song “Gangnam Style”. Luxury apartments in South KoreaThe average purchasing price of apartments in the country has almost doubled in the last 10 years. Part of the reason for this are the multiple luxury-branded apartment complexes in Seoul. Located in Gangnam-gu in Seoul, The Penthouse Cheongdam was the most expensive, with a transaction amount of around 16.4 billion South Korean won.

As of August 2024, the executive chairman of Samsung Electronics Lee Jae-yong (Jay Y. Lee) was the wealthiest person in South Korea, with a net worth of about 11.5 billion U.S. dollars. His net worth increased from 7.9 billion U.S. dollars from the previous year when he rose from second to first place. Seo Jung-jin, the co-founder of Celltrion, followed with about 7.3 billion dollars. Turbulent times for the wealthy Despite the country's economic recovery from the impact of COVID-19, South Korea’s wealthiest people lost a significant amount of their net worth because of the poorly performing stock market and a weakened currency. Lee Jae-yong overcame the shrinking demand for tech goods and ranked as the wealthiest South Korean, although his net worth the year before was more than one billion dollars higher. The founder of Kakao, Kim Beom-su, had the same net worth as Lee Jae-yong in 2022. However, he only placed fourth in 2023, losing more than four billion dollars in net worth within the year. In October 2022, Kakao faced public outrage and criticism because of a service outage. Conglomerates’ dominating position in the South Korean economy   Although the collective wealth of the 50 wealthiest people in South Korea fell by about 18 percent, conglomerates dominated the market. Samsung Electronics had the highest market capitalization among business groups listed in South Korea, amounting to about 474 trillion South Korean won. The position of the largest businesses represented a significant hurdle for start-ups. South Korea had a low survival rate for new companies compared to the OECD average, discouraging the emergence of new businesses. When asked about the most critical challenges, small- and medium-sized business owners answered that increasing revenue and attracting customers were the most difficult.

In 2024, an estimated 461,000 people in South Korea owned financial assets worth one billion South Korean won or more. This was a year-on-year increase of around one percent. The rise in stock prices was, among other things, the key reason for the jump in the wealth of these millionaires. High-net-worth-individuals (HNWIs) in South Korea High-net-worth individuals (HNWI) refer to persons with a net worth of over one million U.S. dollars including their primary residence. The number of HNWIs in South Korea has risen steadily in recent years. While there were about 481 thousand HNWIs in 2016, the number exceeded 830,000 in 2021 and is expected to double the 2015 figure by 2026. South Korea was among the top 15 countries with the most ultra-high-net-worth individuals (UHNWIs), whose net assets, including their homes, exceed 50 million U.S. dollars. Who are the wealthiest people in South Korea? In recent years, South Korea has also seen an increase in the number of billionaires, with the capital Seoul being one of the leading cities in the world with the most resident billionaires. With a net worth of around 11.5 billion U.S dollars, Lee Jae-yong (Jay Y. Lee), executive chairman of Samsung Electronics and son of the late Samsung chairman Lee Kun-hee, was the wealthiest person in South Korea as of 2024. Seo Jung-jin, the founder of South Korea's biopharmaceutical company Celltrion, followed and led the wealth ranking along with Samsung boss Lee.

In 2024, household net worth in South Korea's capital Seoul amounted to around 647 million South Korean won, down from about 660 million South Korean won a year earlier. Seoul's household net worth was the highest among all cities and provinces in South Korea that year.

This dataset provides values for GDP PER CAPITA reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2024, the Penthouse Cheongdam apartments, located in the Gangnam district of Seoul, were the most expensive in South Korea, with an actual transaction value of around 16.4 billion South Korean won. This price exceeded that of the second-most expensive apartment, creating a price gap of approximately 3.5 billion won. The most expensive area in South Korea Seoul ranks as the most expensive city in South Korea. As of November 2023, the average apartment price in Seoul stood at around 12.6 million won, about three times the national average. According to the housing affordability index, Seoul received the highest score nationwide. Within Seoul, the most expensive area was Gangnam, whose residents are known for their luxurious lifestyle. Increasing mortgage loans Since apartments constitute the majority of housing in South Korea, it is no surprise that most mortgage loans are granted for apartment purchases. Moreover, mortgage loans have steadily increased over the years, indicating a higher financial burden for housing, in line with the high housing affordability index. Despite the high housing prices, a survey revealed that most respondents thought housing prices would fall over the next year. Although this provides a relatively positive outlook for future developments, the current housing situation has left respondents with a negative impression of the current government’s real estate policies.