The 747 Plan was the name given to a set of economic goals delivered as pledges in the 2007 campaign of Lee Myung-bak to be elected President of South Korea. Lee won the election and held office from 2008 to 2013, but the goals were not reached.
The plan was named after the Boeing 747 aircraft and pledged 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.
Kang Man-Soo, the Minister of Strategy and Finance, is credited with the creation and design of the plan.
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. Within months of Lee taking office the plan's success was jeopardized by the financial crisis of 2007–08 and ensuing global recession. The plan was not successful.
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- Pesek, William (3 March 2014). "South Korea's Wildly Plausible Growth Plan". Bloomberg View. Bloomberg L.P. Retrieved 12 May 2016.
- "A tiger in winter". The Economist. The Economist Newspaper Limited. 28 March 2015. Retrieved 12 May 2016.
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