Korean government announces 'Korean New Deal 2.0'

The government announced the upgrade of Korean New Deal, Korean New Deal 2.0 on July 14, one year after the introduction of the original plan. The Korean New Deal, through investment and regulatory improvement, has accelerated remote work and education, promoted low carbon and eco friendly manufacturing, and led the transformation into a green and digital economy. The national strategy has received attention from the global community as appropriate policies to respond to the pandemic and climate change.

There have been many changes internally and externally since the introduction of the strategy. At home people have yet to get out of the impact of the disease. Among the concerns brought up include education being affected; income gaps among households are widening, affecting the quality of childcare and living standards; concerns are rising among young adults about jobs, income and housing ; and demand for labor is rising in new industries, such as SW, as transition to a digital and green economy is speeding up, which requires systematic support for business restructuring, as well as large-scale labor mobility that follows.