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Inauguration of President Lee Myung-bak in South Korea



Picture from Lee Myung Bak website On February 25 Lee Myung-bak of the conservative Grand National Party (GNP) will be inaugurated as the 10th President of the Republic of Korea. Lee Myung-bak is a former executive of Hyundai and served as mayor of Seoul 2002-2006. The President-elect has presented his goals in the 747 plan to raise the annual eonomic growth to 7% , the annual per capita income to $40,000 and to make South Korea the world's seventh-largest economy.In his foreign policy he has advocated closer ties with the US and a tougher stance towards North Korea, with economic aid tied to an abandonement of the North Korean nuclear weapons programme. He would engage North Korea by investments rather than aid and has claimed a willingness to set up a 37.5bn won investement fund for North Korea if it abandons its nuclear programme.

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