Sim Sang-jung: "Creating 1.5 Million Jobs Through Greenomics"

Industrial Bank of Korea to Transform into a 'Green Investment Bank'... 500 Trillion KRW Green Public Investment by 2030

[Asia Economy Reporter Oh Ju-yeon] Sim Sang-jung, the presidential candidate of the Justice Party, announced on the 10th that "we will revitalize the regional economy through Greenomics and create 1.5 million jobs."

Sim Sang-jung, the Justice Party presidential candidate, is announcing the 'Greenomics Green Economy Pledge' at the National Assembly on the 10th. Photo by Yoon Dong-joo doso7@

On this day, Candidate Sim made this statement while announcing the three major strategies of the economic pledge 'Greenomics' at the National Assembly main building. Candidate Sim said, "We will create more than 500,000 stable green jobs and revitalize the regional economy," and promised, "First, we will create 300,000 jobs through investment in energy transition."

He added, "We will establish regional energy corporations at the metropolitan city and provincial levels to support the founding of energy SMEs with various ownership types such as public, private, and cooperatives." He explained that 100,000 green jobs will be created through the nationwide residential energy efficiency project called 'Green Remodeling,' and an additional 100,000 green jobs will be created through the ecological transition of agriculture and fisheries, basic income for farmers and fishermen, and support for young farmers, along with smart grid improvement projects.

Candidate Sim emphasized, "In addition to the 500,000 permanent green jobs, we will discover more jobs related to environment, community, and care during the process of rebuilding regional industries and create 1 million jobs through the 'Regional Job Guarantee System' supported by the public sector."

He also announced plans to transform the Korea Development Bank into a 'Green Investment Bank' and to carry out 500 trillion won in green public investments by 2030. Candidate Sim explained, "The Green Investment Bank will either directly participate in green investments or take responsibility for payment guarantees, and the government will issue new green bonds along with carbon tax revenues to invest in infrastructure for the green economy." He also conveyed plans to reorganize government agencies to establish a Ministry of Climate and Energy and to maximize the green innovation capabilities of the public sector.

Along with this, Candidate Sim proposed five principles of 'Greenomics': ▲ an economy that is truly safe from the climate crisis ▲ an advanced economy leading global competition ▲ a domestic demand-based economy that revitalizes regional economies ▲ a job-friendly economy ▲ an economy that guarantees publicness and involves SMEs to resolve inequality. The five industries for green growth he suggested are ▲ renewable energy generation ▲ storage devices ▲ electric vehicles ▲ green hydrogen economy ▲ ecological agriculture and fisheries.

Candidate Sim stated, "The Sim Sang-jung government will break away from the 'old order' of our economy with 'Greenomics,'" emphasizing, "We will completely change the system and philosophy of the economy and establish a new order where technology and labor, markets and society, humans and the Earth coexist."

He added, "This is the biggest difference from Lee Jae-myung of the Democratic Party's '5·5·5 quantitative growth theory' and Ahn Cheol-soo of the People’s Party's 'digital economy'." Regarding Yoon Seok-youl of the People Power Party, he criticized, "There is no solution to inequality and the climate crisis, only regression such as defending nuclear power plants and a 120-hour workweek."

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