Korean New Deal: National Strategy for a Great Transformation
Published in July 2024 by the Government of the Republic of Korea
Retrieved from https://english.moef.go.kr/pc/selectTbPressCenterDtl.do?boardCd=N0001&seq=4948
The Korean New Deal was introduced as a national development strategy to support the country’s recovery from the pandemic crisis and lead the global action against structural changes. Its three main objectives are as follows:
- First, the Korean New Deal aims to minimize the economic shock by creating jobs. It creates not only government-supported jobs for low-skilled workers, but also jobs that support the structural transition towards a digital and green economy.
- Second, this strategy supports the Korean economy’s quick return to its normal growth path by building the necessary infrastructure for a digital and green economy that will restore investments and support job creation.
- Third, it sets the groundwork for Korea not only to adapt to the structural changes but also to lead the global community in the post COVID-19 era.
This plan forms an institutional basis on which a digital and green economy can be supported. At the same time, it also establishes a universal employment insurance system and sets a path towards net-zero emissions.
Read the full publication here or download the attached PDF