President Moon Jae-in has just wrapped up chairing the government’s second strategy meeting on the Korean New Deal initiative.
For more, we’re joined on the line by our presidential correspondent Kim Min-ji.
Min-ji, give us the details.
President Moon Jae-in says the government will push for regional development as part of the Korean New Deal drive to achieve balanced growth across the nation.
Chairing a New Deal strategy meeting this morning, Moon introduced the idea, saying that it would determine the success of the Korean New Deal.
Tuesday’s meeting brought together the mayors and governors of the country’s 17 cities and provinces to discuss regional projects.
Here’s the president.
We will spare no financial support, including active incentives, for New Deal projects for regional development. We will also seek systematic developments for the smooth execution of the ‘Regional Balance New Deal.’
Of the government’s roughly 140 billion U.S. dollar New Deal investment plan, over 65 billion dollars will be directed toward projects outside of the capital area.
These include fostering smart schools and smart green industrial complexes which will be able to revive local economies and contribute to job creation.
Moon added that this will also enable local governments to increase their competitiveness based on regional characteristics.
Moon said that the regional new deal will become a key pillar of the Korean New Deal, along with its digital and green pillars.
He stressed that cooperation between the central government, local governments, parliament and the private sector will be key for the plan’s success.
Just to give our viewers a recap, President Moon introduced the New Deal initiative earlier this year as a means to prepare for the post-COVID-19 era.
It aims to meet the country’s future needs and create jobs that embrace the two main pillars “digital” and “green.”
The government will be laying out the specifics of its plans for its regional new deal drive in a press conference this afternoon.
Back to you, Mark.