This government document describes basic policy directions and major policies for economic management for each year from 1981 to 1985. Evaluating the performance of the previous year, the government estimated the internal and external economic conditions of each year and evaluated major industrial tasks. Trends in prices, major economic indices, and major investment programs are also summarized.
In the 1981 plan, the government expected the inflation rate to falter as the global economy gradually recovered. In the previous year, the economy was in recession due to rapidly increasing oil prices and exchange rates, a result of the second world oil crisis, domestic political instability, and crop failure. At that time, the population of Korea was 38.8 million, and the economically active population was estimated to be 14.9 million.
Increasing growth potential, promoting exports, price stabilization, welfare programs, and institutional improvements to increase economic capability were reported as major policies. Also included are detailed plans for stimulating the economy, such as plans for the establishment of public works projects, housing construction, advancing the heavy chemical industry, promoting private investment, nurturing small- and medium-sized companies, expanding exports and improving the circulation structure of agricultural and fishery products. Additionally, the government decided to improve mid-to-long term institutions that promote competition, and to revise the fair trade system.
In the plan for 1982, the economic growth rate was forecasted at seven percent, aiming to accelerate economic recovery, and the balance of payments deficit was lowered to USD 4.4 billion. To achieve the objectives, the government decided to innovate distribution structures, strengthen customer protection, improve the tariff system, and improve competitiveness through transformation of companies and rationalization of industry.
In the 1983 plan, the government attempted to balance development, expand social infrastructure and settle of market competition. It also began to prepare for the 1986 Asian Games 1986 and the 1988 Olympics.
For 1984, there are detailed plans for general industrial development, including plans for strengthening industrial competitiveness through technological innovation, nurturing small and medium sized parts engineering industries, improving financial flow, and increasing agricultural and fishery productivity. Additionally, there are policy plans, such as expansion of medical services and labor-management cooperation, which consider the quality of development of society.
In the 1985 plan, there are supplementary plans for each sector of industry to achieve substantive growth based on stable prices and the rapid growth of the manufacturing sector. Also included are detailed plans for the upcoming pair of international events.
1981-85년도 경제운용계획(Economic management plan 1981~ 1985)
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Economic Administration|
|Holding||경제기획원; 한국개발연구원 국제정책대학원|