[Photo] S. Korea to overtake Japan individual purchasing power by 2023, IMF predicts

According to data gathered by the International Monetary Fund (IMF), South Koreans’ purchasing power per capita is expected to overtake Japan by 2023. According to the IMF World Economic Outlook database, South Korea’s purchasing power parity (PPP) is expected to rise to $41,362 by 2023, which would move it up in global rankings to 30th out of 193 countries. Japan per capita GDP, however, is still expected to be greater than South Korea’s.