This study aims to serve as a reference to the formulation of the seventh Five-Year Socio-Economic Development Plan by reviewing the past Five-Year Socio-Economic Development Plans.
Korea has carried out six Five-Year Socio-Economic Development Plans since the first one was launched in 1962. The first and second plans in the 1960s suggested political goals for the establishment of the basis for economic development through industrialization. The third and fourth plans in the 1970s presented political goals for the establishment of the basis for the improvement of the industrial structure and self-sufficient growth through the development of the heavy chemical industry. The fifth and sixth plans in the 1980s focused on the political goals to achieve economic stability and for the promotion of competition for the improvement of the economic constitution and national welfare. With such plans as the basis, Korea could achieve economic development and national power. The seventh Five-Year Socio-Economic Development Plan provides the required guidelines for Korea to become an advanced nation and achieve a national consensus rather than quantitative development.
The seventh Five-Year Socio-Economic Development Plan is slated to kick off in the 1990s. During this time period, Korea is expected to experience the slowdown of global economic development and trade due to high oil prices, the wide opening of agricultural products and service markets, the deepening technological competition focused on quality rather than price and the increased globalization of the economy. Accordingly, the seventh Five-Year Socio-Economic Development Plan should be designed to enhance Korea’s growth potential through technological and managerial innovation designed to increase Korea’s global competitiveness, improve the quality of national life, equity and welfare, develop policies to keep up with global trends and expand Korea’s presence in the global economy, reform the system of each economic sector based on the principle of the free market economy to reinforce Korea’s economic constitution and redefine the roles of the public and private sectors.
The seventh Five-Year Socio-Economic Development plan focuses on building a national consensus about policy formulation by encouraging people from all walks of life to participate in the process of formulating the plan and creating a practical plan through active communication among various sectors for the prevention of contradiction with their plans. The draft of the seventh Five-Year Socio-Economic Development Plan is slated to be completed in August of 1990 and published anywhere between September and December of 1991.
제7차 경제사회발전 5개년 계획수립을 위한 기본구상(Basic ideas for the formulation of the seventh five-year socio-economic development plan)
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Economic Administration|