The economic think tank on December 25 predicts that the UK and South Korea will rise to one of the world’s top ten economies by 2026 and may rank sixth in 2030 if reunification of the Korean peninsula occurs.
This is one of the predictions of the London-based Center for Economic and Business Research (CEBR) in its annual report “World Economic League Table 2019”.
South Korea ranks 11th in the ranking of the world’s developed and emerging economies measured by GDP.
Given the recent reconciliation of inter-Korean relations, the report said, “Going further could be a great stimulus for growth.”
“Unification of Korean living standards Korea will have the sixth largest GDP in the world, overtaking Britain and France in the 2030s.”
CEBR also predicted that Korea’s GDP would “grow at an annual rate of 3.0% in 2018-23% and 2023-33”.
South Korea noted that its GDP per capita is US$ 41,420, adding that “Korea is a fast growing and wealthy economy in Asia that is rapidly catching up with neighboring Japan on a per capita basis.”