청 "Korean New Deal, Actively Considering Public Participation Infrastructure Fund Creation" (Comprehensive)

President Moon: "We must undertake bold experiments in plan execution"... Chairman Park Yong-man: "It must be placed within the framework of laws and systems for rapid progress"

[Asia Economy reporters Jeongmin Ryu and Sunhee Son] The Blue House has decided to actively consider establishing a 'National Participation Infrastructure Fund' related to the Korean New Deal.

Yoon Jae-kwan, deputy spokesperson of the Blue House, stated on the 15th regarding the closed-door discussion at the Korean New Deal briefing event, "The Blue House and the government deeply sympathize with the various opinions presented and will actively consider proposals such as establishing a legal and institutional reform TF, participating in the formulation of renewable energy plans by basic local governments, and creating a National Participation Infrastructure Fund."

In this regard, President Moon Jae-in said, "I hope we can vigorously promote the Korean New Deal by gathering wisdom together," and added, "I would also like us to try somewhat bolder experiments in executing the plans we have set."

[Image source=Yonhap News]

The Blue House's emphasis on additional efforts to implement the Korean New Deal reflects the contents raised by participants during the closed-door discussion at the event that day.

Deputy Spokesperson Yoon said, "There were remarks emphasizing improvements in laws and systems aligned with the Korean New Deal plan," and added, "Park Yong-man, chairman of the Korea Chamber of Commerce and Industry, pointed out that the Korean New Deal can be promoted more strongly and quickly only if it is placed within a framework of laws and systems suitable for the future."

Deputy Spokesperson Yoon added, "(Chairman Park) said he was pleased that the New Deal-related institutional innovation tasks were included," and "He expressed the opinion that a temporary legal and institutional reform TF involving the government, National Assembly, and private sector should be operated to lead changes in the framework of laws and systems in line with the New Deal plan."

Deputy Spokesperson Yoon said, "There were opinions raised that the participation of various economic actors such as labor, private sector, and local governments is important," and conveyed, "Kim Dong-myung, chairman of the Federation of Korean Trade Unions, said that at this point where the COVID-19 crisis is entering a prolonged phase, the Korean New Deal project must succeed."

On the 14th, citizens are watching President Moon Jae-in's 'Korean New Deal National Report Conference' in the Seoul Station waiting room. Photo by Jinhyung Kang aymsdream@

Deputy Spokesperson Yoon added, "(Chairman Kim) said he hopes that the Federation of Korean Trade Unions and other economic actors will widely participate and cooperate in the regularized Korean New Deal strategy meetings and various support systems in the future. Furthermore, he said that although he will not hesitate to offer critical feedback during the implementation process of the comprehensive Korean New Deal plan announced today, the spirit of participation and cooperation will remain unwavering."

Chairman Kim also expressed that the near-agreement reached on the labor-management-government consensus to overcome the COVID-19 crisis reflects the efforts of labor, management, and government to overcome the crisis, and that rapid implementation should proceed centered on the Economic, Social and Labor Council.

Lee Hae-chan, leader of the Democratic Party, said, "For the success of the Korean New Deal, the private sector must be structured to have the autonomy to create and present creative business plans," and added, "The Korean New Deal execution body should include not only the government and the party but also the private sector to enhance execution power."

Kim Sung-hwan, chairman of the Green New Deal subcommittee of the Democratic Party's K-New Deal Committee, said, "Basic local governments should be allowed to directly establish renewable energy plans so that they can create energy self-reliant villages and combine them with digital technology, thereby laying the foundation for a kind of digital green city."

Deputy Spokesperson Yoon said, "Lee Kwang-jae, chairman of the Digital New Deal subcommittee of the K-New Deal Committee, emphasized the need to productively and future-orientedly utilize the abundant liquidity in the market to promote the Korean New Deal rapidly and proposed the establishment of a digital and green National Participation Infrastructure Fund to build a virtuous cycle structure that shares benefits with the public."