South Korea’s K-New Deal
Just like every country, South Korea has been hit hard by the COVID pandemic. Their export industries have dropped by 24% and their unemployment rate also rose. So to combat the effects of COVID on their economy, South Korea is looking to use this to their advantage to kickstart their economy. President Moon has invested $135 Billion in the Korean New Deal, or “K-New Deal,” in green and digital technology enterprises. This Green New Deal will create over 300,000 new jobs and see a more renewable South Korea by 2025. President Moonpersonally chair each meeting to ensure the K-New Deal meets its target each month. 2SER was joined by Dr Sung-Young Kim from Macquarie University to discuss with us South Korea’s ambitious new deal.