Kim Yong-beom, Deputy Minister of Economy and Finance, "Korean New Deal, Detailed Implementation Plan to be Prepared and Announced in Early June"

Kim Yong-beom, Vice Minister of Strategy and Finance, is delivering opening remarks while presiding over the 'Korean New Deal Promotion TF Kickoff Meeting' held on the afternoon of the 12th at the Government Seoul Office in Gwanghwamun, Seoul.

[Sejong=Asia Economy Reporter Joo Sang-don] Kim Yong-beom, First Vice Minister of the Ministry of Economy and Finance, announced on the 12th that "a detailed implementation plan for the Korean New Deal will be prepared and announced in early June."

On this day, Vice Minister Kim said at the first meeting of the 'Korean New Deal Promotion Task Force (TF)' held at the Government Seoul Office, "We will discover, review, and specify detailed projects related to the 10 key tasks of the three major projects by the end of May."

This TF was formed to rapidly discover, review, and specify detailed projects related to the three major projects of the Korean New Deal, including digital infrastructure construction, fostering non-face-to-face industries, and digitalization of social overhead capital (SOC), as well as the 10 key tasks.

First, the TF is composed of three teams by project: ▲ Digital Infrastructure Team (led by the Ministry of Science and ICT), ▲ Non-face-to-face Industry Team (Ministry of Economy and Finance), and ▲ SOC Digitalization Team (Ministry of Land, Infrastructure and Transport). Each team will actively incorporate creative and innovative ideas from private experts and companies on the ground that can be turned into policies into the detailed projects of the Korean New Deal.

Vice Minister Kim also presented the criteria for selecting detailed projects: ▲ Digital-based projects distinctly differentiated from the existing civil engineering-centered economic stimulus New Deal policies ▲ Projects with synergy effects from private investment rather than unilateral, government-led public investment, and with high job creation effects ▲ Innovative infrastructure directly linked to improving productivity and competitiveness across all industries and sectors, not just some industries ▲ 'Selection and concentration' on impactful large-scale projects capable of producing results through focused investment over the next 2-3 years, rather than small-scale projects with limited ripple effects.

Vice Minister Kim said, "Digital transformation has enormous potential for job creation, as it requires high ICT (Information and Communication Technology) expertise for quality jobs as well as labor-intensive tasks," and urged, "Each ministry should proactively respond to the increasing demand for new digital jobs and actively discover workforce training measures."

This content was produced with the assistance of AI translation services.