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Korean New Deal: National Strategy for a Great Transformation

Publication
Thursday, 17 December, 2024

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:

  1. 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. 
  2. 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.
  3. 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