To lay out the blueprints the ruling party, government and the Blue House on Monday held the third Korean New Deal Strategic meeting.
President Moon Jae-in emphasized that the Korean New Deal will enable the country to transition into a society of the future.
“Digital and green innovation are major changes in the history of civilization, and have become a task for our times that transcend ideology, factions and borders. It cannot be avoided, and there is no other choice.”
The Korean New Deal, he said, will continue to evolve and develop, and the government will actively support the National Assembly and the ruling party’s efforts to find creative ways to include people in the project.
Finance minister Hong Nam-ki introduced four strategies.
They include active financial investment of more than 19.2 billion U.S. dollars.
Around 38 percent of which will be used for the green new deal to increase the use of low carbon and renewable energy, establish a smart water management system, and eco-friendly industrial complexes.
Meanwhile, the Digital New Deal is allocated 37 percent for a cyber disease prevention system and a so-called ‘Data Dam’ project to fuel growth and create jobs, as well as to implement 5G and AI in all industries.
Other proposed strategies involve adapting regulations and measures to changes expected in the future, making New Deal and infrastructure funds of up to 3.6 billion dollars, for balanced regional growth.
The participants in Monday’s meeting recognized that for the success of the Korean New Deal, the legislative support is paramount.
Hong Yoo, Arirang News.