With today marking one year since the Moon administration launched the Korean New Deal, and now having announced the Korean New Deal 2.oh, I'm joined on the line today by is Dr. Kim Sei-wan, Professor of Economics at Ewha Womans University to take an in-depth look at the initiative and the changes announced today.
Professor Kim, good afternoon. Thanks for coming on.
So, it's already been one year since Korean New Deal was announced. The plan has two pillars, which are the "green" pillar dealing with the environment, and the "digital" pillar. In the past year, what kind of progress have we seen on the Green New Deal?
As part of the New Deal, the government also announced New Deal funds for people to invest in so they can take part in the growth that the government hopes to achieve. Tell us about these funds and where you see them going.
Today at an event or the one-year anniversary, President Moon announced a Korean New Deal 2.oh. And this raises the overall scale of the project, adding a pillar on strengthening the social safety net and a pillar they're calling the "Human New Deal." Tell us about what was announced today.
So total investment under the Korean New Deal has been rased from a 160 trillion won to 220 trillion won, which is almost 200 billion dollars. This is the plan through 2025. What kind of effect do you think this will have overall on the economy?
Some are saying, though, that it's not appropriate to be adding more money to the Korean New Deal while there's been what they say is a limited amount of progress on it so far. How should they be moving forward on this, in your view?