PRES. MOON UNVEILS DETAILS OF “KOREAN NEW DEAL”

[Anchor Lead]

President Moon Jae-in on Tuesday unveiled details of his ambitious Korean New Deal initiative. Calling it a declaration for a major transition for the country, he pledged to invest 160 trillion won through 2025 centered on two key initiatives, a Digital New Deal and a Green New Deal.

[Pkg]

​President Moon Jae-in has expressed strong resolve to achieve fundamental changes for the country. He vowed to advance Korea into a pace setting economy, a low carbon economy and a more inclusive society free of inequality. He called for proactively responding to a new global order in the post-coronavirus era to plan the next 100 years for South Korea.

[Soundbite] PRES. MOON JAE-IN : "Korea will aim to become a nation that leads global trends through two initiatives, Digital New Deal and Green New Deal, based on steadfast employment and social security."

Digitalization will be sought in all areas of the economy, education and medicine for Korea to become a world class digital powerhouse. Through the Green New Deal, Seoul will preemptively respond to climate change to raise the quality of life and also push for major job creation by fostering green industries. President Moon said all these projects will be based on the foundation of employment security and social safety nets.

[Soundbite] PRES. MOON JAE-IN : "The coronavirus pandemic will be seized as an opportunity to strengthen the social safety net and reduce inequality."

Ten key projects to be rolled out under the Korean New Deal include incorporating artificial intelligence in government, smart medical infrastructure, green remodeling and green smart schools. To this aim, 160 trillion won including 114 trillion from state coffers will be invested over the next five years. Moon also expected the initiatives will create 1.9 million new jobs during that time. He said the success of the Korean New Deal depends on speed, and urged the ruling party, government and the presidential office to make preemptive adjustments to sort out any conflicts of interest.