Deputy Minister Ki Jae: "Starting from the 6th, 250,000 Won National Support Fund will be provided"

Speeding Up Follow-up Measures for New Deal 2.0... 33 Trillion Won Invested in New Deal

[Asia Economy Reporter Jang Sehee] Lee Okwon, the 1st Vice Minister of Strategy and Finance, announced, "We plan to distribute the 11 trillion won-scale Win-Win National Support Fund starting from the 6th."

At the 'Innovation Growth Strategy Review Meeting, COVID-19 Policy Review Meeting, and Korean New Deal Review Meeting' held at the Government Seoul Office on the 3rd, Vice Minister Lee stated, "For the recovery and sustained stability of the livelihood economy, it is necessary not only to endure the current situation but also to prepare to stand up again and move forward."

He continued, "We are making every effort to minimize public inconvenience and ensure swift execution during the application and payment process of this National Support Fund," adding, "We have also focused on improving the inconveniences experienced during last year's emergency disaster relief fund application and usage process."

To prevent congestion, both online and offline applications will apply a day-of-the-week system based on the year of birth during the first week of implementation. The usage locations are the same as those for the local love gift certificates and will be indicated on a separate website as well as on Naver Map and KakaoMap.

The follow-up measures for Korean New Deal 2.0 will also be carried out without delay. The government budget proposal for next year increased the Korean New Deal investment scale to 33.7 trillion won, up 12.7 trillion won from this year's main budget.

Vice Minister Lee said, "The Digital New Deal will invest 9.3 trillion won to accelerate digital transformation and foster hyper-connected new industries," and added, "The Green New Deal will invest 13.3 trillion won to support the green economic transition and achieve carbon neutrality by 2050."

Regarding the economic trend, he stated, "Due to the fourth wave of COVID-19 and strengthened social distancing measures, it is difficult to continue the improvement trend until the second quarter, and the adjustment range in the third quarter and the degree of economic rebound in the fourth quarter will determine our economic growth."

He added, "Considering the inflation trend announced yesterday for August and the uncertainty of COVID-19 re-spread, we cannot yet relax our vigilance," and said, "We are simultaneously providing policy support to overcome the immediate crisis and making efforts to expand growth potential for the future of our economy."

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