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LeClerc's avatar

at its current rate, south korea will most likely go through its own version of the lost decades before managing to surpass japan's gdp per capita. The problem is that SK follows the same economic model as Japan and has a faster aging population than Japan does. Their property bubble is also at the brink of collapse from the look at recent development especially in regards with the cheonse market. At the end of the day, the definition of insanity is doing the same thing over and over and expecting different results

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Shinya Deguchi's avatar

It's probably too anecdotal, not academical, but I happen to be in Seoul this weekend for the first time in... 20 years. I can feel that the life in Korea (especially in Seoul) is as good as in Japan. The price level is still slightly below Japan's level, but the lifestyle is almost identical (or could be better). I can easily foresee that Korea's nominal GDP per capita can be higher than Japan's in the next few years. (it also depends on how JPY will behave, too)

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