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‘Jeju New Deal’ to cost KRW 12 trn by 2025
Jeju Special Self-Governing Province said on Jan 12 that the provincial government will push forward its own version of development package, called ‘Jeju New Deal’, spending nearly KRW 12.28 trillion on 34 tasks entailed in three separate segments over the next five years.
Specifically, KRW 4.48 trillion worth of budgets will go to a dozen environment schemes, what’s known as the Green New Deal, which includes the formation of Green New Deal Zone, a large scale energy storage system (ESS), the usage of surplus energy and the development of ‘Power to Heat (P2H)’ technologies.
For the other pillar of the New Deal, the Digital New Deal, the authorities are planning to funnel as much as KRW 5.89 trillion into 18 tasks to build up disaster response infrastructure and to promote blockchain-based database management system.
In addition, Jeju Island invests over KRW 1.9 trillion in six tasks to further reinforce social safety net that entail disease prevention and control measures and school bus safety monitoring protocols, alongside multiple projects for inclusive engagement in energy transition.
kjm@newsis.com
** This article was translated from Korean.
Date
2021.01.22
Views
279
According to Newsis,
Jeju Special Self-Governing Province said on Jan 12 that the provincial government will push forward its own version of development package, called ‘Jeju New Deal’, spending nearly KRW 12.28 trillion on 34 tasks entailed in three separate segments over the next five years.
Specifically, KRW 4.48 trillion worth of budgets will go to a dozen environment schemes, what’s known as the Green New Deal, which includes the formation of Green New Deal Zone, a large scale energy storage system (ESS), the usage of surplus energy and the development of ‘Power to Heat (P2H)’ technologies.
For the other pillar of the New Deal, the Digital New Deal, the authorities are planning to funnel as much as KRW 5.89 trillion into 18 tasks to build up disaster response infrastructure and to promote blockchain-based database management system.
In addition, Jeju Island invests over KRW 1.9 trillion in six tasks to further reinforce social safety net that entail disease prevention and control measures and school bus safety monitoring protocols, alongside multiple projects for inclusive engagement in energy transition.
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kjm@newsis.com
Source: Newsis (Jan 12, 2021)
** This article was translated from Korean.