The second year of President Park Geun-hye's government will focus on laying the groundwork for innovation and improvement of the overall economic conditions that can be palpable to the people.

To that end, President Park said during a news conference marking the new year that she will launch and successfully carry out the so-called three-year economic innovation plan this year and open the "era of people's happiness."

"In order for people to feel the actual achievement, we will establish the three-year economic plan for innovating and making another leap in our economy," Park told reporters.