Xinhua, Seoul :
South Korea plans to unveil its three-year plan for economic innovation next month mentioned by President Park Geun-hye during her news conference on Monday, local media reported Tuesday.
“As President Park said during the New Year’s speech, we will draw up the three-year economic innovation plan as soon as we can and unveil it by the end of February,” Yonhap news agency quoted Finance Minister Hyun Oh-seok as saying.
Hyun added that the plan will especially deal with the imbalance between domestic demand and exports, trying to create a dynamic and innovative economy in the country.
According to Park, the three-year plan focuses on three major implementation strategies. First, it will help create an economy with solid fundamentals through reforms to set right the ill practices rampant in the society. Second, it will help make a dynamic, innovative economy through a creative economy. Third, the government will boost domestic demand and ensure a balance between domestic demand and exports.
Park said the country’s growth potential is expected to rise to around 4 percent and the annual per-capita income level to exceed 30,000 U.S. dollars and move toward 40,000 U.S. dollars with the help of the plan.
