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K-New Deal: South Korea to invest $133bn in digital, green sectors

President Moon Jae-in aims to create 1.9 million jobs by 2025

South Korean President Moon Jae-in said Tuesday the "K-New Deal" will be the starting point for the country to lead the post-coronavirus world.   © Kyodo

SEOUL -- South Korea on Tuesday unveiled $133 billion of post-coronavirus spending in what President Moon Jae-in called a "K-New Deal," echoing the term used by U.S. President Franklin Roosevelt for the programs to pull his country out of the Great Depression in the 1930s.

Under the plan, South Korea will invest 160 trillion won ($133 billion) to create 1.9 million jobs by 2025 in the digital and green sectors.

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