By Jane Han
Staff Reporter
The knuckle-gripping Grand National Party's presidential primary is over, results are out and former Seoul Mayor Lee Myung-bak is the one smiling. But will his ambitious economic policy spread a smile on the face of citizens?
From day one, the 66-year-old nicknamed ``the bulldozer,'' who successfully restored the Cheonggye Stream during his time as Seoul mayor, set out loud campaign pledges that heavily focused on the country's economic revival.
Of them are two key pledges, including a 14 trillion won cross-country canal, dubbed the Pan-Korea Grand Waterway, and ``747 plan'' that promises to multiply the country's economic growth.
Lee has been stressing that the canal project, which will be 3,100 kilometers long and consist of 17 routes, would help cut logistics costs by approximately one-third and promote balanced regional development.
During his visit to Germany early this year, he visited the gigantic Rhein-Main-Donau Kanal and met canal construction experts to discuss the project's feasibility.
The 747 plan envisions achieving a 7 percent economic growth, increasing per capita income to $40,000 and making Korea _ currently 11th _ the world's seventh biggest economy.
``The 747 plan is the final goal and the canal project is the means to reach that,'' said politics professor of Myoungji University Kim Hyung-joon. ``The pledges sound great, but they're very strong, and strong promises call for solid results.''
When contenders claim to revive the economy, he says there are many ways to do so, therefore, presenting detailed plans is the winning point.
Kim said the country saw a staggering economy for the past decade and the next president must accurately define the structural problem, which can be anywhere from the lack of corporate investment to labor issues.
``The definition is unclear yet,'' Kim said. ``At first it seemed clear and then slowly became fuzzy.''
When the presidential elections begin, Lee should nail down those points with crystal-clear details of how things will be done and what results they will bring, he added.
Economics professor of Sungshin Women's University, Kang Seog-hoon, agreed that Lee's pledges, especially the canal project, need a bit more tightening up, but it's the winning candidate's ``can-do'' image that is winning people's vote.
``It's really not about how much he knows about the economy and what sort of mega results he will bring,'' said Kang. ``Lee has already proved that he's someone who gets things done and that's been enough for many voters.''
As for the economic pledges he's made, however, Kang says there should be another collection of opinions to tweak the plan in a more realistic way.
Lee, who served as the chairman of Hyundai Engineering & Construction, was nominated Monday as the Grand National Party's presidential candidate, winning by a slight margin over his rival Park Geun-hye.