Korea Surpasses After 20 Years, Japan Overtaken for the First Time Ever... Taiwan's Remarkable Progress

Taiwan President Tsai Ing-wen: "Per Capita GDP to Surpass South Korea and Japan This Year"
Strengthening Support for Semiconductors and High-Tech Industries Despite COVID-19
Taiwan Government Lifts Entry Restrictions and Asymptomatic Self-Quarantine

Taiwan President Tsai Ing-wen is giving a speech at the Taiwan National Day event on the 11th. Photo by AFP Yonhap News

[Asia Economy Culture Young Intern Reporter] Taiwan President Tsai Ing-wen stated that "Taiwan's per capita Gross Domestic Product (GDP) will surpass that of South Korea and Japan this year."

According to local media such as Liberty Times on the 14th, President Tsai made this remark while visiting New Taipei City yesterday ahead of next month's local government elections, citing data from the International Monetary Fund (IMF).

According to the IMF, this year South Korea's and Japan's per capita GDP are estimated at $33,590 and $34,360 respectively, expected to decrease by 4% and 12% compared to last year. In contrast, Taiwan's per capita GDP is projected to rise to $35,510 from $33,140 the previous year.

Taiwan, which was surpassed by South Korea in per capita GDP in 2003, is expected to overtake South Korea again after about 20 years and surpass Japan's per capita GDP for the first time in history.

Meanwhile, on the same day, President Tsai emphasized regarding the lifting of COVID-19 quarantine measures, "Everyone has been looking forward to opening the country's doors," adding, "We can finally overcome the pandemic and travel freely."

Despite the COVID-19 pandemic, Taiwan has strengthened support for the semiconductor industry and advanced sectors, leading to rapid economic growth. Taiwan's economic growth rate last year was 6.57%, the highest in 11 years since 2010.

Previously, the Taiwanese government lifted entry restrictions for countries requiring visas and ended self-quarantine for asymptomatic entrants. It also decided to consider resuming ferry operations connecting China's Fujian Province and Taiwan's outer islands, which had been suspended due to the COVID-19 situation.

This content was produced with the assistance of AI translation services.