In order to accomplish the abovementioned objectives, the government announced New Economy 100 Day Plan" which was designed to establish a policy reform base by restructuring the weakened economy and to create a fundamental environment so that all people could participate in the new economy. It was a Series of short-term measures designed to Create a suitable base for the New Economy Five-Year plan, long-term economic plan.
The plan announced basic policies such as institutional reforms and the expansion of growth potential.These reforms included a fiscal system (tax system, expenditure structure and budgetary system), a financial system and economic administration, and a regulatory system.Also , major policies were to (i) undertake economic reforms,(ii) promote globalization and international cooperation, and (iii) improve the living conditions of the people