747 Plan

The 747 Plan is the political buzzword for the economic goals of the administration of South Korean president Lee Myung-bak.[1]

The plan named after the Boeing 747 and pledges to achieve 7 percent economic growth, increase in the GDP per capita income to $40,000, and to make the nation the 7th largest economy in the world.[2]

Kang Man-Soo, the Minister of Strategy and Finance, is credited with the creation and design of the plan.[3]

At the beginning of his presidency, South Korea was not among the ten largest economies and had per capita GDP of less than $20,000. The plan has been called "audaciously ambitious,"[4] and national competitiveness committee co-chair David Eldon warned Korean citizens to compare Korea's economic growth to other developed economies during Mr Lee's administration rather than focus on the stated goal of 7%.

See also

References

  1. ↑ Feffer, John (2008-01-08). "Elect A Green Bulldozer?". The Korea Times.
  2. ↑ "Lee Myung-Bak (이명박)". Sejong Society of Washington, D.C.
  3. ↑ http://english.mosf.go.kr/about/dpm/dpm2.php
  4. ↑ Jackson, Van (2007-12-21). "Promises undermine democracy in Korea". Asia Times.


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