Yea, but comparing South Korea with Japan, US, you will find their per capital growth rate is rather low. In 1987, Japan GDP per capital reached $20,000 USD, and when 1992, they reached $30,000, moving forward to 1996, it's $42,000. South Korea reached $20,000 USD in 2006, now after 6 years in 2012, it's still $22,000. They have been stucked there, the golden era of South Korea is past.
There is a difference between nominal GDP/capita and PPP.
In PPP South Korea is now at 33,000 US dollars while Japan is at 37,000. The day is not far away when Koreans have a higher standard of living than Japanese.