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Korea's 17 New Growth Engines
The Korean government's plan to promote 17 new growth engines is a long-term strategy aimed at rapid economic growth. While the 'Green New Deal'* scheme is a massive investment plan focused on short-term effects. The latest proposal is designed to nurture new industries to sustain the Korean economy over the long term. The government's goal is to lay the groundwork for economic growth through market creation and the development of basic and applied technologies at the initial stage, and to produce 700 trillion won in addedvalue over the next ten years. The effective combination of these short-term and long-term plans will help Korea overcome the current economic slowdown and eventually achieve
continued economic prosperity.
The government will spend more than 13 trillion won to foster the new growth engines. It is estimated that the initiative, if implemented successfully, will generate about 700 trillion won in added value and create 3.5 million jobs by 2018. The new strategy will serve as a stepping stone for Korea's future economic take-off.
*The Green New Deal is designed to combine green growth and job creation. In the short term, the 'Green New Deal' will respond to the recent economic downturn and in the mid and long term, it will boost growth momentum to take Korea to the next level of green growth. |
 Green Technology
- New and renewable energy
- Low-carbon energy
- High-tech water management
- The application of light-emitting diodes
- Green transportation systems
- High-tech green city applications
High-tech Industrial Convergence
- Convergence of broadcast and telecommunications
- IT convergence
- Robotics applications
- New materials and nano-technology
- Biopharmaceuticals and high-tech medical instrument
- The high value-added food industry
High Value-added Services
- Global healthcare
- Global education services
- Global finance
- Contents and software
- The MICE and tourism industry
* MICE (Meeting, Incentives, Conventions, Events)
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