The sixth Five-Year Socio-Economic Development Plan was created with economic advancement, efficiency, and equality as its goals, to develop Korea into an economically advanced nation in the 21st century.
The sixth Five-Year Socio-Economic Development Plan is expected to forecast Korea’s economic evaluating its economic outlook and criteria for economic activity by the common goals of achieving maximized national profit.
Korea saw an increase of GNP per capita from USD 82 in 1961 to USD 1,662 in 1979, due to its economic development in the 1960s and 1970s, strategies for overseas-oriented growth, and development of its heavy chemical industry despite economic uncertainty. The fifth Five-Year Socio-Economic Development Plan contributed to satisfying basic needs for citizens through surpluses in the international balance of payments, price stability, the spread of free market competition, employment stability, welfare improvement for laborers, improvement in education, and the expansion of medical insurance plans, despite the second oil crisis and protectionism.
Considering the domestic and foreign conditions of the second half of the 1980s, Korea is likely to adopt an open-door policy and protective trade, enjoy stability in international interest rates, gain a trade volume increase of above 4 percent, global growth, and technological development. At home, Korea is expected to see a slow population increase (roughly 1.25 percent) in 1985, an increase in the demand for welfare, regional balance, technology-centered industrial structure, and accelerated market opening and globalization. In terms of the long-term prospects of the 21st century, as a major economic player, Korea will be able to reach the level of an economically advanced nation in terms of income and consumption, and enjoy material prosperity and emotional diversity, and balanced development among regions in its development as a fair and stable nation.
The sixth Five-Year Socio-Economic Development Plan aims to achieve economic advancement and national welfare improvement through efficiency and equality. It is also designed to serve as a basic strategy for the establishment of an economic and social system, industrial restructuring, technological improvement, welfare improvement, and balanced regional development.
The sixth Five-Year Socio-Economic Development Plan aims to advance various projects in seven areas for the growth of employment, price stability, surpluses in the international balance of payments, relief of foreign debt burdens, promotion of industrial restructuring, technological immigration, regional balanced development, comprehensive development in agricultural areas, improvement in national welfare and equality, financial liberalization and advancement, and the restoration of order in the market economy.
With the successful completion of the sixth Five-Year Socio-Economic Development Plan, Korea will be able to achieve an increase of its GNP per capita of 170 percent, from USD 9.4 billion in 1986 to USD 176 billion in 1991, product exports from USD 33.6 billion to USD 54.4 billion (an annual increase of 10 percent), and USD 48.9 billion in product imports, achieving a trade surplus worth USD 5.5 billion. Also, an increase in domestic saving will serve as a basis for the autonomous provision of financial resources for investment, contributing significantly to cut foreign debt. Moreover, the economically active population is expected to increase 2.2 percent and the working population 2.3 percent, stabilizing the unemployment rate at 3.7 percent.
제6차 경제사회발전5개년계획(The sixth five-year socio-economic development plan)
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Economic Administration
Government and Law < Public Administration
|Holding||대한민국정부; 한국개발연구원 국제정책대학원|