• Moon To Unveil Details Of 'New Deal' Project Next Week

President Moon Jae-in
President Moon Jae-in
President Moon Jae-in will make public next week details of his ambitious "New Deal" project aimed at creating jobs and fostering economic growth to buffer the fallout from the novel coronavirus pandemic.

Cheong Wa Dae spokesman Kang Min-seok on Wednesday said the president received a briefing from Finance Minister Hong Nam-ki on a "comprehensive" scheme for the so-called Korean-version New Deal.

Hong, who also doubles as deputy prime minister for the economy, gave specifics of the plan, including signature projects and the scale of the budget, which was drawn up in consultations among the government, the ruling Democratic Party and Cheong Wa Dae.

Moon instructed Hong to prepare thoroughly for an event to "report the plan to the people," which is slated for next Monday.

In April, Moon announced his push for the New Deal and presented the idea of focusing on establishing digital infrastructure.

He later suggested adding the Green New Deal to the package as another pillar to make South Korea's economy less dependent on fossil fuel in bold shift toward environment-friendly energy use.
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