[Full Text] President Moon's Speech at the Korea New Deal National Report Conference

[Asia Economy Reporter Jeongmin Ryu]

Dear respected citizens,

We are engaged in a war against a virus with no clear end in sight.

However, our people know how not to be defeated by the virus.

The safety rules that our citizens have made a daily habit

are the best vaccine against the virus.

We are overcoming the COVID-19 crisis in the most exemplary way.

Unlike other countries, without border or regional lockdowns,

we have succeeded in ‘efficient quarantine’ while keeping the economy running.

Even as COVID-19 is spreading again worldwide,

the number of new domestic community infection cases

remains at an average of 20 to 30 per day.

K-Quarantine has become the global standard.

Thanks to the success of K-Quarantine, we have minimized economic shocks,

and gained confidence that we can recover our economy faster than any other country.

[Image source=Yonhap News]

I express boundless gratitude and respect to the great citizens.

Our country is no longer the Republic of Korea that sought to be a fast follower.

With pride in ‘We are already an advanced country,’

we have gained confidence that we can lead the world.

South Korea’s global status has risen remarkably.

However, we must never be complacent about the future.

Humanity faces unprecedented enormous challenges.

The virus has devastated the global economy,

and completely changed human daily life.

Global supply chains are being reorganized,

and a new international order is being demanded.

The world before and after COVID-19 is fundamentally different.

We must actively respond to this great change.

If we fall behind in change, we will remain a perpetual second-tier country.

The government, once again with the power of the people,

beyond overcoming the COVID-19 crisis,

intends to turn this historic change into an opportunity for leap forward.

If change is inevitable,

we will actively lead that change.

We will open the path for a new Korea that leads the world.

Dear citizens,

Today, the government

announces a bold vision and plan for the Korean New Deal,

a promise to open the future of a new Korea.

The Korean New Deal

is a declaration of ‘Great Transformation of Korea’ to leap forward as a leading country.

From a follower economy to a leading economy,

from a carbon-dependent economy to a low-carbon economy,

from an unequal society to an inclusive society,

it is the government’s strong will to fundamentally change Korea.

The Korean New Deal is the blueprint for Korea’s new 100 years.

So far, we have done very well.

We achieved remarkable compressed growth despite colonization, division, and war.

But the growth model of the past has reached its limits,

and the dark shadow of inequality remains deep.

The ‘post-COVID-19 era’ is accelerating the path to the new 100 years.

Leading economy, active response to climate change, and transition to an inclusive society

are urgent tasks for Korea’s future

that can no longer be delayed or hesitated.

This is not Korea’s path alone.

It is an unavoidable global trend that the whole world must move forward together.

The Fourth Industrial Revolution and digital civilization are already the future of humanity.

The national development strategy to lead this unstoppable flow

is the Korean New Deal.

Based on a strong employment and social safety net,

we will build on two pillars: the Digital New Deal and the Green New Deal,

and advance as a leading country ahead of the global trend.

We already have world-leading competitiveness in the digital field.

If we combine our digital capabilities across all industries,

we can transform from a follower economy to a leading economy.

That is the goal of the Digital New Deal.

The non-face-to-face digital world has already deeply entered our lives,

and the era of remote education and healthcare has arrived.

A society where data is a competitive advantage has opened,

and new industries combining artificial intelligence and networks

are becoming future sources of income and reservoirs of future jobs.

As the world’s top ICT competitor and the number one semiconductor country,

we have the technology and capabilities to lead the digital revolution.

The innovation venture startup boom is already creating a dynamic economy.

With bolder and more proactive investments,

we will strongly promote digitalization in all areas of life including society, economy, education, industry, and healthcare,

and become the world’s leading digital country.

The Green New Deal is a proactive response to the climate crisis.

The climate crisis is already an urgent reality for us.

The COVID-19 pandemic has once again confirmed the urgency of responding to climate change.

With a consensus that addressing climate change is essential to prevent infectious diseases,

advanced countries such as Europe

are already promoting the Green New Deal as a core task.

Although we are generally behind in this field,

we also have strengths.

The green revolution must be based on digital technologies where we have strengths.

When Korea, praised worldwide for K-Quarantine, moves toward the Green New Deal,

we will be able to lead a new world order of solidarity and cooperation to solve the climate crisis.

The low-carbon economy is also a global trend.

The Green New Deal will not only improve our quality of life by solving fine dust problems,

but also enhance our industrial competitiveness amid increasingly stringent international environmental regulations,

and create large-scale jobs through the growth of green industries.

Resolving inequality and transitioning to an inclusive society

are prerequisites for Korea’s great transformation.

The COVID-19 crisis has starkly revealed the vulnerability of our social safety net.

The vulnerable groups are hit first,

and new forms of labor and jobs such as freelancers and platform workers

are greatly threatened.

The Korean New Deal is a new social contract for Korea.

No one should be left behind even in crisis,

and everyone must coexist.

We overcame the past foreign exchange crisis and global financial crisis well,

but left aftereffects of polarization along with employment insecurity.

We will break the formula that ‘crisis means deepening inequality.’

We will turn this COVID-19 crisis

into an opportunity to strengthen social safety nets and reduce inequality.

The government will take the lead.

We will strengthen employment and social safety nets,

and actively expand investment in people.

For a people-centered digital economy and sustainable development where no one is excluded,

we hope economic actors including labor, management, and government will join hands to overcome the crisis,

make concessions, compromise, and move together toward a future of coexistence.

Dear citizens,

The government’s role has grown and its responsibility has become heavier.

We will expand fiscal spending and boldly invest in the future.

The government will take the lead in actively creating new jobs.

We will pool national capabilities to resolve inequality and expand safety nets.

Making the Korean New Deal a national development strategy,

we will vigorously fulfill the government’s role and responsibility.

We will select representative large-scale national projects that change our economy, society, and citizens’ lives, and invest intensively.

The government has selected 10 representative projects as flagship projects of the Korean New Deal in the fields of Digital New Deal and Green New Deal.

‘Data Dam,’ ‘Artificial Intelligence Government,’ ‘Smart Medical Infrastructure,’

‘Green Remodeling,’ ‘Green Energy,’ ‘Eco-friendly Future Mobility,’

‘Green Smart School,’ ‘Digital Twin,’ ‘SOC Digitalization,’

and ‘Smart Green Industrial Complex’?these 10 representative projects

will lead Korea’s great transformation.

During our government’s term,

citizens will directly witness these changes.

The Korean New Deal places special emphasis on expanding safety nets and investing in people.

Along with efforts to gradually expand employment safety nets for all citizens,

we will completely abolish the support obligation criteria by 2022,

and promote a pilot introduction of sickness benefits that allow people to rest when ill.

By expanding investment in people and adapting to social and economic structural changes,

we will strengthen talent development and vocational training systems,

and vigorously promote digital inclusion to close the digital divide.

The government promises unprecedented investment in the Korean New Deal.

By 2025, we will directly invest 114 trillion won from the national treasury,

and including private and local governments, about 160 trillion won will be invested.

By 2022, the last year of our government,

we will invest a total of 68 trillion won including 49 trillion won from the national treasury,

to create tangible changes.

New jobs will reach 890,000 by 2022,

and 1.9 million by 2025.

We hope the Korean New Deal will be a new opportunity for citizens in need of jobs.

Dear citizens,

The Korean New Deal will continue to evolve.

It will spread to regions and the private sector,

and dynamically transform Korea.

Leading global changes,

it will continue and develop beyond our government to the next administrations.

Today’s announcement of the comprehensive Korean New Deal plan

is the beginning of Korea’s great transformation.

It is the starting point to leap forward as a leading country in the world.

Starting is half the battle.

Please join forces for the success of the Korean New Deal.

Let us open the future of a leading Korea together.

Thank you.