gettyimagesbank

The government will spend 22.5 trillion won (US$20 billion) on its Green and Digital New Deal initiatives this year, aiming to find sustainable growth engines for the Korean economy, the Ministry of Economy and Finance said.

According to an economic policy report released by the Finance Ministry, the government will keep accelerating its drive for New Deal projects throughout this year, focusing more on generating tangible outcomes.

The government had spent about 60 percent of the annual New Deal-related budget as of the end of May.

On the front end of the Green New Deal, the government will make more specific “green efforts” under the goal of ultimately achieving carbon neutrality. Specifically, it will expand investments in new renewable energy development and help supply more eco-friendly mobility systems nationwide, the ministry said.

The government will also provide support for any green remodeling projects and encourage more companies to receive a zero energy building certificate from the Ministry of Land, Infrastructure and Transport before constructing new buildings. The certificate is given when a building minimizes energy consumption and even generates energy by installing solar panels and other devices.

For the Digital New Deal initiative, the government will focus on supporting the growth of the data processing, network systems and AI industries.

For a smooth public sector digital transformation, a total of 36 sites, including military hospitals, will start introducing AI systems from July. A mobile driver’s license is another key digital project that the government will introduce in the latter half of the year.

Money budgeted for the Digital New Deal will also be spent to establish new Wi-Fi systems in elementary and middle school classrooms nationwide.

Last but not least, the government stressed that it would also allocate part of the budget to strengthening the social safety net. For a smooth transition into the digital world, the government will provide training for those who seek digital industry-related reemployment.

In August, a so-called AI Innovation Hub will open to serve as the key venue in terms of developing AI manpower.

“The government will speed up its drive to find next growth engines for the economy by pushing ahead with New Deal projects in a timely manner,” an official said. “We will also work to help the economy adapt to structural changes and continue achieving sustainable growth.”

**If you have any questions about this article, feel free to contact us at kocis@korea.kr.**