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Korean version of the New Deal came out of the crisis that the economic structure and social structure would change dramatically after Corona, while saving the economy that had settled down to Corona 19. It is also characterized by emphasizing the employment safety net as jobs may disappear in the process. However, some voices criticize the lack of specificity and worry about fiscal soundness.

Reporter Chan-Keun Park will deliver this.

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government focused on the changes in the job market that will result from the transition to a digital and eco-friendly economy.

It was expected that the types of jobs, such as platform labor, would diversify, and that the demand-supply inconsistencies between jobs would deepen.

Unemployment and polarization are factors that can intensify.

In response, the government decided to invest KRW 26,600 billion in strengthening the social safety net by strengthening vocational training in the digital and eco-friendly fields and greatly increasing the target of employment insurance.

[Department of Defense / Ministry of Strategy and Finance: We will solve the blind spot of employment insurance and support new entry and transition into the employment market.]

However, like the US New Deal in the 1930s, the philosophy of fundamentally changing the economy, welfare and social system It is pointed out that it is invisible.

As a result, some believe that it is urgent to meet the short-term job goals.

[Kim Jeong-sik/Professor, Department of Economics, Yonsei University: In the government, even unskilled people can hire in such part of collecting data. However, such employment is temporary and temporary.]

If the Korean version of the New Deal, which spends more than 114 trillion won in finances, is not able to succeed in converting the economy, it may increase the debt.


[Professor of the Department of Economics, Ong-Woon-Won/Songsil University: If the government's finances get worse, what the government can do is raise taxes or issue government bonds. It can put a heavy burden on future generations.]

Since it is a long-term investment project until 2025, long after the end of the current term of government, there are also many concerns about sustainability.

(Video coverage: Jung Sung-hwa, video editing: Jun-hee Kim, CG: Yoo-jin Lee) 

▶ 160 trillion in'New Deal' 1.9 million jobs in 5 years