South Korea's ambitious New Deal plan unveiled Tuesday encompasses 10 major projects in the digital and green sectors, as well as other projects to strengthen the social safety net.
The Digital New Deal includes the creation of a 'Digital Dam' so called because, like Roosevelt's Hoover Dam it will create jobs.
It'll make available for use by the private sector more than 140-thousand kinds of public data.
It will also pave the way for the adoption of 5G and artificial intelligence in industry and public administration.
The finance ministry also plans to expand non-contact services for education, healthcare and business.
Those efforts will include providing WiFi at schools, expanding online classes and supporting online selling for small- and mid-sized firms.
Also, the government will digitalize systems for roads, ports and other social overhead capital.
"The Korean New Deal is different from construction projects. It's for digital green infrastructure, and a base project to create future growth engines for the post-corona era. It's a pre-emptive program to make our society eco-friendly and to nurture human resources in the long term."
The Green New Deal includes the adoption of green technologies for buildings and city infrastructure.
Detailed plans include the retrofitting of some 230-thousand old buildings with eco-friendly power and creating 25 'smart green cities'.
The government plans to expand the use of solar and wind power while supplying over one million electric vehicles and 200-thousand hydrogen vehicles.
Aside from that, South Korea will create 10 'smart green' industrial complexes and more than 17-hundred 'clean factories'.
To secure the country's social and labor safety nets, the government said it will make sure more people are covered by employment insurance by 2025, while providing more financial support to foster social welfare.
The finance minister also vowed to train some 100-thousand experts in the AI and software sectors.
The finance ministry added that, under the presidential office, it will lead the grand plan along with the ruling party.
Yoon Jung-min, Arirang News.