South Korea's potential gross domestic product(GDP) growth rate per person is expected to fall to the zero percent range between 2030 and 2060, hitting the lowest ranks among advanced nations.

According to economic circles on Monday, the Organization for Economic Cooperation and Development(OECD) issued the projection in its recent fiscal outlook report to 2060.

Potential GDP refers to the maximum level of production that a country can achieve without stimulating inflation, and potential growth refers to the rate of increase of this potential GDP. 

The OECD report said South Korea's potential per capita GDP growth rate will continue to decline from two-point-eight percent per year between 2007 and 2020 to one-point-nine percent between 2020 and 2030 and zero-point-eight percent between 2030 and 2060. 

The figure for 2020 and 2030 is higher than the OECD average of one-point-three percent, but the estimate for 2030 to 2060 is below the OECD average of one-point-one percent, ranking South Korea at the bottom along with Canada among 38 countries.