Lee Myung Bak is easily known by his nick name “Bulldozer,” he gained that figure in the era when South Korea made the remarkable appear nearly regular. Lee soared his triumph in the 17th presidential election in South Korea.
Two decades ago, when Lee owned Hyundai Engineering and Construction Co. , the nation made a nonviolent changeover from an autocratic domination to democracy, hosted a productive Summer Olympics, and repeatedly racked upward yearly economical increase of eight per penny or much, creating Korea’s own economical miracle.
Lee stayed in a single room house in Seoul; his parents were working as street vendors. Lee worked hard to study in the college by peddling fruits and vegetables. In the year 1965, he joined the prestigious Hyundai Company. Later in 1977 he started his own largest Chaebol’s subsidiaries. Lee worked as mayor of Seoul since 2002 to 2006, during this period his direction was on stimulating financial glory days.
Lee’s victory led him to promise seven percent growth in economy. This doubles the per capita income up to $40,000 per year. Lee’s ambition plan for next 5 years is to make South Korea the 7th largest nation around the reality in economy, which is presently in 13th spot. Lee has a plan to cut down in the corporate tax by a third, to 10 percent. This will permit the investors in investing much, which leads to introduction in many jobs. Lee’s next focus is to bring down the unemployment rate. He has a plan to reduce the number of regulatory hoops which gives way to the Korean entrepreneurs in getting into the business. Lee is too concentrating on creating jobs by constructing large domestic canal which would link the country’s rivers.
Highlight of Lee’s triumph is packed by his international policies and South Korean strong relations with North Korea and also victorious meeting held in the month of October between current President Roh Moo Hyun and Kim Jong II.
Exactly 20 years after the best available and impartial election in the nation’s story, South Korea is now behaving like nothing if not an old democracy. Turnout in this election was just over 62% of the qualified electorate — downward abruptly from the 71% hat turned away to elect Roh Moo Hyun five years ago.
2007 election made South Koreans look that their nation has get then steady and too well-off. Nearly 40 percent of the electorate is downright bored with politics.