Two Pillars of Digital New Deal and Green New Deal on the Foundation of Employment Safety Net... Expected Job Creation Effect
[Asia Economy Reporter Ryu Jeong-min] The Blue House announced on the 3rd that "the Korean New Deal will be promoted on the foundation of an employment safety net with two pillars: the Digital New Deal and the Green New Deal, with a total investment of about 76 trillion won."
According to the Blue House, 31.3 trillion won will be invested by 2022 to create 550,000 jobs for the Korean New Deal. Additionally, an investment plan of 45 trillion won has been set from 2023 to 2025. In this regard, 5.1 trillion won was allocated in the 3rd supplementary budget. From 2021 to 2022, 26.2 trillion won will be allocated.
The Digital New Deal plans to invest 13.4 trillion won to create 330,000 jobs. The Digital New Deal is based on strengthening the DNA ecosystem, building digital inclusion and safety nets, fostering non-face-to-face industries, and digitizing SOC. It includes plans for data construction, opening, and utilization in areas closely related to citizens' lives, the expansion of the 5G national network, and cloud transition.
In addition, it includes the construction of ultra-high-speed internet networks in rural fishing villages, public facility Wi-Fi installation, establishment of the K Cybersecurity system, and building digital-based educational infrastructure in all elementary, middle, and high schools. Preparation is also underway for establishing a digital management system for four core facilities.
The Green New Deal is a project investing 12.9 trillion won to create 133,000 jobs. It is based on the green transformation of urban space living infrastructure, building an innovative green industry ecosystem, and spreading low-carbon distributed energy.
It includes the full conversion of public facilities closely related to citizens' lives to zero energy, fostering 100 leading famous companies in the Green New Deal and five leading green industries, and building an intelligent smart grid for energy management efficiency.
The employment safety net strengthening project plans to invest 5 trillion won to create 92,000 jobs. It is based on supporting employment stability for those in the blind spots of employment insurance and restructuring into a future-adaptive vocational training system to establish a nationwide employment safety net.
The Blue House explained, "We plan to finalize and announce a comprehensive plan in July by supplementing and expanding additional tasks in the future."
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