Title: Economic Development Series (1st Issue)
(View Souvenir Sheet)
Has No Title
Stamp Serial#
724 
KPC#
C-468 
MICHEL#
751 
StanGib#
902 
Scott#
738 
Date of Issue
01/05/1971 
Quantity
2,000,000 
Denomination
10 won 
Design
Power Dam (Electric Power) 
Designer
Chun Hee-han 
Image Area
49mm*33mm 
Perforation
1313 
Sheet Composition
55 
Paper
White unwatermarked
Printer
Government Printing & Mint Agency of the Repubic of Korea 
Description
In order to publicize both at home and abroad the brilliant developments and accomplishments attained by the people of this country toward the modernization of their fatherland, thereby enhancing the prestige of the Republic of Korea, the Ministry of Communications is to issue a series of postage stamps. To be released on three different occasions, three kinds of stamps each time, these nine postage stamps depicting the economic rehabilitation of our country also are designed to renew the firm determination, of all our people dedicated to the successful implementation of the Third Five-Year Economic Development Plan which is to be commnced in 1972.

The following three aspects of economic development which we have achieved so far are to be dedicated in the first of this series of postage stamps:
   1. Food Since olden times; Farmers of Korea have been utterly defenseless against the chronic disaster of droughts, depending merely on the whims and fancies of the weather in the performance of their farming. The government, in an effort to bring about a self-sufficient economy for farmers by means of developing water resources for agricultural use putting arable lands in good trim and mechanizing the farming industry, had the Law for Acceleration of Modernizing Agricultural Communities enacted in 1969 and has been investing enormous funds in this direction. The total quantity of food products, which stood at slightly more than 5,930,000 tons in 1961, was drastically increased up to more than 7,730,000 tons in the year of 1969.
   2. Electric Power In order to meet the rapidly increasing demand for electric power which constitutes the key factor for economic development, the government is making strenuous efforts for the construction of additional large-capacity power stations, at the same time toiling hard to expand and reinforce the existing facilities for power generation. The output of electric power, which totaled 367,250kw in 1961, copped a whopping 2,300,000-odd tons as of the end of 1970.
   3. Export Since the early 1960`s, export of commodities and military supplies to Vietnam have steadily increased year by year due mainly to the persistent effort of the government to promote exports. Popular export items, which have excelled other commodities in export during the past four years, include such as plywood, sweaters, clothes and wigs. The total export amount which stood at slightly more than $56,700,000 in 1962 was drastically increased to about $702,810,000 in 1969, and it is further expected to hit the $1,000,000,000 mark at the end of 1970.