South Korea’s nominal GDP per capita to surpass Japan’s in 2027
The Japan Economic Research Center predicted that the success or failure of digitalization, including administration, would greatly affect labor productivity. In this regard, the Nikkei pointed out that the South Korea introduced the resident registration number system in the 1960s, which the Japanese government is currently considering to implement. The Japan Economic Research Center analyzes that the Japanese economy could suffer constant negative growth in the 2030s if digitalization is not upgraded and utilized. The analog status of business-to-business transactions such as stamp seal and signature is still prominent.
The Nikkei pointed out again that South Korea and Taiwan have been overhauling the electronic environment for handling civil complaints from government offices, but Japan still has an analog status of business-to-business transactions such as stamping and signing.
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