President Park Geun-hye will unveil details of a three-year economic innovation plan outlined during her New Year's press conference with a promise to significantly raise South Korea's growth potential and per capita income within her term.

Park will make the unveiling by reading a statement on Tuesday, the first anniversary of her inauguration, before presiding over a joint meeting of top economic policymakers and civilian economic advisers, her spokesman Min Kyung-wook told reporters.

The innovation plan is the centerpiece of Park's economic policy.

During the news conference, Park said that if the economic innovation plan proceeds as planned, the potential growth rate of South Korea's economy would rise to about 4 percent in three years and that South Koreans can hope to see per capita income grow to $40,000.

Park said she will pursue the plan focusing on three major strategies: strengthening economic fundamentals by rectifying wrong practices deeply rooted in South Korean society, pursuing her signature "creative economy" vision and boosting domestic demand. (Yonhap)