Thinking ahead: The Bank of Korea flag flies outside the central bank’s headquarters in Seoul. Its “New Deal” spending plan is to reshape the economy post-pandemic. — Bloomberg
SEOUL: The South Korean government unveiled a 76 trillion won (US$62bil) ‘New Deal’ spending plan to reshape the economy in the aftermath of the pandemic after slashing its growth forecast for the year.
The plan, first outlined by president Moon Jae-in in April, aims to refocus the economy through 2025 by supporting job growth and new industries.
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