President Moon Jae-in is chairing the government’s first strategy meeting on his administration’s ‘New Deal’ initiative.
The president introduced a new deal fund which will bring in investment from the public and private sectors as well as the general public to support the deal’s projects.
For more, we’re joined on the line by our presidential correspondent Kim Min-ji.
Min-ji, give us the details.

Mark, the president says the government will be creating a fund worth 20 trillion won, or roughly 16.8 billion U.S. dollars to fund the New Deal projects.
It will bring together investments from the government, state-run financial institutions, private financial firms and the general public.
Here’s part of what the president had to say.

It will be an opportunity for the people not only to create profit for themselves, but to invest in South Korea’s future and social value. The success of the Korean New Deal will be possible when there’s active private investment and active participation from the people.

Just to give our viewers a recap, the New Deal initiative aims to meet the country’s future needs and create jobs that embrace two main pillars “digital” and “green.”
President Moon introduced the idea few months back as a means to prepare for the post-COVID-19 era.

President Moon added that over the next five years, 84 billion dollars in policy loans and private finance worth 59 billion dollars will be used to invest in New Deal projects.
On top of that, the government also plans to create a so-called New Deal index to attract further investments.

The president said he hopes, through the plans, that excess liquidity can be directed to more productive areas, rather than unproductive areas, such as the real estate market.
He promised to speed up deregulation to spur new deal projects or related business activities.
Back to you, Mark.

Reporter : kimmj@arirang.com

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