The gap between South Korea and China in terms of gross domestic product appears to be widening, the Bank of Korea said Monday.
In 2013, China’s GDP eclipsed that of South Korea by sevenfold, with $9.18 trillion and $1.3 trillion, respectively.
A decade earlier, Korea’s GDP was up to 41 percent of China’s, but the gap between the economies widened as China’s economic growth skyrocketed. Since 2003, the Chinese economy is estimated to have grown almost fivefold.
At the same time, the GDP gap between South Korea and Japan has narrowed. Last year, Japan’s GDP was 4.5 times that of South Korea, compared to 6.3 times in 2003.
