South Koreans may attain the same level of wealth as Americans and Japanese currently enjoy in a decade, according to a Seoul-based think tank.

In a new report, the Hyundai Research Institute says South Korea’s per capita gross national income--the sum of gross domestic product per person plus net income received from overseas—will hit $50,000 by 2024 if the country keeps achieving its current growth potential of mid-3% GDP expansion. South Korea's per capita GNI was $26,205 in 2013.

The U.S. had per capita GNI of $53,470 in 2013, while in Japan it was $46,330, according to the World Bank. In Switzerland it was a whopping $90,760.

The South Korean government expects the economy to be roughly on track for HRI’s prediction, with 3.4% growth expected for 2014 after a 3% expansion in 2013.

Of course, a lot could change over the next ten years. If the economy underperforms and grows in the mid-2% range, the timing will be delayed until 2030. Or if it keeps growing in the mid-4% level it will hit the $50,000-dollar threshold by as early as 2021, HRI says.