73.4 Trillion Invested in Green New Deal... 659,000 Jobs Created

Promotion of Zero Energy for Aging Buildings
Establishment of a 215 Billion KRW 'Green Enterprise Development Fund'

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] The government announced that it will invest a total of 73.4 trillion won in the Green New Deal by 2025 to create 659,000 jobs.

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced this comprehensive plan at the "Korean New Deal National Report Conference" hosted by President Moon Jae-in at the Blue House on the 14th.

The government plans to improve the quality of life for citizens and lead global investment expansion through the Green New Deal.

The government will pursue zero-energy renovation of aging buildings such as public rental housing, daycare centers, and cultural facilities. It also plans to establish Green Smart Schools by installing solar power and eco-friendly insulation materials.

The government intends to select 25 regions for Smart Green Cities. Additionally, it will implement urban green space projects such as fine dust blocking forests, life-friendly forests, and child-safe green forests.

To spread low-carbon and distributed energy, the government will distribute 1.13 million electric vehicles and 200,000 hydrogen vehicles, and support the early scrapping of 1.16 million old diesel vehicles. The supply of renewable energy such as solar power, wind power, and hydrogen will also be expanded.

In building an innovative green industry ecosystem, 10 Smart Green Industrial Complexes will be established, along with 100 Smart Eco Factories and 1,750 Clean Factories.

Furthermore, by 2024, the government plans to develop region-customized integrated management technologies through Northeast Asia cooperation and technologies to manage blind spots of fine dust.

Meanwhile, the government will create a 1.9 trillion won loan fund for corporate environmental pollution prevention investments and establish a 215 billion won public-private joint fund to foster green companies.

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