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Despite the global success of the Korean dystopian drama series “Squid Game,” which became Netflix’s most-watched and highest-grossing show, the violent survival thriller also shed light on the frustration felt by the public over mounting debt, unaffordable homes and dead-end jobs in Asia’s fourth-largest economy.

The nine-episode drama features hundreds of debt-ridden adults participating in deadly versions of Korean children’s games, hoping to win a cash prize of 45.6 billion won (US$38 million).

Amid the growing class polarization that has plagued the nation in this era of neoliberal capitalism, the Moon Jae-in administration has stepped up efforts to address the problem through its “Human New Deal” policy, an upgraded version of the employment and social security programs within the Korean New Deal.

President Moon unveiled the initiative on July 14 in order to create an additional government policy fund worth 100 billion won as part of what he described as the Korean New Deal 2.0.

“The Human New Deal is about further expanding and developing the employment and social safety nets. Accordingly, the Korean New Deal has set up the three pillars – Digital, Green and Human – and has evolved a notch higher into a comprehensive national project that practices the spirit of regional balance,” President Moon said in his presentation marking the first anniversary of the program’s launch.

“Through the Human New Deal, we will further strengthen the employment and social safety nets, for instance, by establishing a universal employment safety net and completely abolishing mandatory family support obligations. At the same time, investments in people will be greatly expanded as a response to our low-carbon and digital transitions.”

According to the President, focus will be placed on supporting young adults, the key drivers of social change, and on reducing the ever-widening divide in education and healthcare.

“Maximum support will be provided so that companies and universities can play a central role in effectively nurturing professionals for such new and growing industries as system semiconductors, biohealth and future cars on top of 90,000 software specialists,” he said.

“Customized assistance for building wealth will be given to young people, who are the Republic of Korea’s future. All the support possible will be provided through policies to stabilize housing and ease the burden of education expenses. Through quality vocational training programs and support for startups, we will actively facilitate job creation for young people and help them become innovation leaders.

“We will introduce four programs to improve education in a bid to narrow the educational divide and significantly expand the foundation for quality caregiving services, thereby strengthening the relevant safety net for the vulnerable.”

The Human New Deal is aimed at helping young adults overcome the impact of the COVID-19 pandemic by providing upgraded support that covers education and employment as well as housing and asset growth.

It also seeks to upgrade education and childcare support for low-income households and prepare them for the economy’s rapid transformation, while adopting a comprehensive education package whose main focus is on the acquisition of essential academic skills to help compensate for the loss of educational training caused by the pandemic.

The policy also aims to upgrade the country's caregiving system from child and senior care to disability assistance and single-parent support.

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