South Korea will unveil its three-year economic innovation plan next month with a focus on rectifying the “imbalance” in the country’s economy, the finance minister said Tuesday.

The plan was first mentioned by President Park Geun-hye on Monday during her news conference marking the new year. Park said that with the plan, the country’s growth potential is expected to grow to around 4 percent and the annual per-capita income level to exceed $30,000 and move toward $40,000.

“As President Park said during the New Year’s speech, we will draw up the three-year economic innovation plan as soon as we can and unveil it by the end of February,” Finance Minister Hyun Oh-seok said during a meeting with other economy policymakers in Seoul.

He pointed out that there is an imbalance between domestic demand and exports in the economy, and said the three-year plan will deal with the problem.

“We will draw up the plan with a focus on building an economy with a strong foundation, nurturing a dynamic and innovative economy, and creating an economy where domestic demand and exports are balanced,” he said. (Yonhap News)