South Korea will invest 160 trillion won by 2025 in projects that will help create 1.9 million jobs under its "Korean New Deal" stimulus, says Finance Minister Hong Nam-ki.
In a meeting of Cabinet ministers presided over by President Moon Jae-in, the government came up with 28 digital and green projects that will increase state investment in artificial intelligence and 5G telecommunication services and transform its economy from fossil fuel fuel-reliant to being eco-friendly.
The government is eyeing to invest 58.2 trillion won in digital projects by 2025 to generate around 900,000 jobs.
For the artificial intelligence project, the government is set to train 100,000 professionals in artificial intelligence.
The government will spend 73.4 trillion won on eco-friendly projects, including 230,000 energy-saving homes and public buildings and supplying of 1.13 million electric cars.
The "Green New Deal" projects also include an increased supply of renewable energy and building more low-carbon industrial complexes, Hong said, adding they will help create 650,000 jobs.
Other projects being planned are internet networks to be built in remote areas and big data industry promotion by making 140,000 sets of state data public.
The projects would lay the groundwork for long-term economic growth while hastening economic recovery and cushioning blows from the pandemic.
The central government will shoulder 114.1 trillion won on the Korean New Deal projects, while local governments will allocate 25.2 trillion won.
The private sector would fund the remaining 20.7 trillion won.
Hong said regulations would be revised to encourage private companies to join the projects.


Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure
Thailand Inflation Remains Negative for 10th Straight Month in January
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 



