Korea's per capita income is on course to top US$30,000 this year, but economic growth is expected to fall to a six-year low.

According to the Bank of Korea, the country's gross national income per capita for 2018 is projected at roughly $31,000, 12 years after it broke through the $20,000 barrier.

But GDP growth is projected at only 2.7 percent for the year, the lowest since 2012. The central bank attributed the slowdown to weak domestic demand, especially in the construction sector.