President Moon Jae-in has pledged to push forward with his Korean New Deal initiative despite the ongoing COVID-19 pandemic, announcing plans to expand investment from 160 trillion won to 220 trillion won by 2025.
At a Korean New Deal strategic meeting on Wednesday, Moon promised to prioritize support for outstanding regional projects and encourage active regional participation.
The president said the government will set up an additional ten-million-won public participation fund and share the progress with the public.
The vision, which initially consisted of two main pillars -- the digital new deal and the green new deal -- will add a third component, the human new deal, aimed at reinforcing employment and social safety nets for everyone.
For the digital portion, Moon pledged to combine the 5G network and artificial intelligence(AI) in all sectors. In green energy, the government will improve systems to gauge and assess greenhouse gas emissions and accelerate the transition to a low-carbon economy.
With the expanded New Deal policy, the government plans to create two-point-five million jobs, up by 600-thousand from the previous announcement.