Title: Economic Development Series (1st Issue)  (View Souvenir Sheet)
	Stamp Serial#	726
	KPC#	C-471
	MICHEL#	753
	StanGib#	905
	Scott#	741
	Date of Issue	02/05/1971
	Quantity	2,000,000
	Denomination	10 won
	Design	Coal Mining
	Designer	Lee Keun-moon
	Image Area	33mm*23mm
	Perforation	13
	Sheet Composition	5×10
	Paper	White unwatermarked
	Printer	Government Printing & Mint Agency of the Repubic of Korea
Description
During the past 10 years, the people of this Republic of Korea have achieved remarkable progress and development through close unity and cooperation, thereby contributing a great deal to the task of modernizing their fatherland. They are further determined anew to assure a successful implementation of the Third Five-Year Economic Development Plan starting in 1972. The Ministry of Communications plans to release nine kinds of postage stamps depicting the economic rehabilitation so far achieved by this country, in a serial form, three kinds at each time. The first of the series has already been issued, and the following three shall be released on the second occasion:    1. Coal: The government had a law enacted for the promotion of the coal mining industry in 1969, which stipulates, among others, that a total of 52,300,000,000 Won(One U.S. dollar is equivalent approximately to 310 Won) be invested in the industry during a 10 year period. The coal production in Korea, which stood barely at 5,880,000 tons in the year 1961, jumped up to more than 12,350,000 tons in 1970.    2. Cement: As a result of steady efforts on the part of our government for the development of the cement industry, the nation now has become able not only to meet the increasing demand for the product within the country but also to expert some of the surplus product. In 1961, cement produced by only two factories then existing in Korea amounted to not more than 510,000 tons. Due to the rapid expansion of the industry, the production capacity of eight cement plants in the country successfully topped 5,810,000 tons in 1970.    3. Fertilizer: Owing to the sustained endeavors by both the government and entrepreneurs for the mass production of fertilizer, the production of nitrogenous fertilizer, which constitutes the major source of fertilizer supply in the country, has surpassed by far the domestic demand. Some of the surplus product came even to be exported to foreign countries. A little less than 30,000 tons of fertilizer was produced by only one factory in 1961, whereas the output jumped up to more than 582,000 tons with as many as eight plants in operation in the year 1970.