SEOUL, KOREA - The main message in the televised speech delivered on January 6 by President Park Geun-hye for the New Year was "economic reform." In her 18-minute announcement, as much as a half was allotted for delineating economic plans.

 

The President said, "The officials in the government worked day and night to relieve the burden of our people. This year we will make sure the economy makes a leap so that the people can reap the tangible benefits." In order for this to happen, she said, the government will establish a three-year plan to focus on the following three issues: first, the government would try to eliminate unnecessary regulations and lay the foundation for a strong economy; second, it will build a dynamic economy by releasing the creative potential of our people; and finally, it will strengthen domestic consumption to keep pace with rapidly rising exports.

 

President Park also stressed that she would begin the reform process for state-run enterprises in earnest, with the establishment of "creative economy support centers" in 17 cities and provinces and boosting of domestic consumption by encouraging small- and medium-sized corporations to invest and hire more.