Statistics
Economy
Employment
🔥 70
2025-12-23
2024 Regional Income (Provisional)
National Data Agency
12024 national GRDP reached 2,561 trillion KRW, up 6.2% from the previous year.
2Real economic growth hit 2.0% driven by manufacturing and transportation sectors.
3Per capita household income rose to 27.82 million KRW, improving purchasing power.
📋 Key Findings
🔍 Background
Regional income is a comprehensive economic indicator for provinces and cities, estimated based on production, consumption, and prices. It is compiled annually to understand the scale and structure of regional economies, serving as a basis for policy-making and economic analysis.
📌 Key Points
The national GRDP totaled 2,561 trillion KRW, with Gyeonggi Province being the largest at 651 trillion KRW. Real growth was highest in Gyeonggi (3.6%) and Ulsan (3.4%), while Chungbuk (-1.5%) and Daegu (-0.8%) saw declines due to sluggish manufacturing and construction. Ulsan recorded the highest per capita GRDP at 85.19 million KRW.
📝 Implications
Economic concentration in the Seoul metropolitan area is evident, accounting for 52.8% of total production. Seoul and Gyeonggi saw net income inflows of 73 trillion KRW and 44 trillion KRW, respectively, while Chungnam (-33 trillion KRW) and Gyeongbuk (-21 trillion KRW) experienced significant net income outflows.
📝 Impact on Daily Life
National per capita Gross Disposable Household Income (GDHI) rose 5.5% to 27.82 million KRW. By region, Seoul residents had the highest income at 32.22 million KRW, followed by Ulsan at 31.12 million KRW. Conversely, Jeju recorded the lowest level at 24.61 million KRW.
📚 Glossary
지역내총생산 (Jiyeok-nae Chong-saengsan)Gross Regional Domestic Product (GRDP); the total market value of all final goods and services produced within a specific region over a certain period.
가계총처분가능소득 (Gagye Chong-cheobun Ganeung Sodeuk)Gross Disposable Household Income (GDHI); the amount of income households can freely spend or save, indicating actual purchasing power.
지역외순수취본원소득 (Jiyeok-oe Sun-suchwi Bonwon Sodeuk)Net primary income from outside the region; the difference between income inflows and outflows resulting from the movement of labor or capital between regions.
실질 성장률 (Siljil Seongjang-ryul)Real growth rate; an indicator showing the increase in production volume, excluding the effects of price fluctuations.