As the pandemic COVID-19 caused economic, social and structural changes in the world, the Republic of Korea proposed the Korean New Deal, which is a development strategy aimed at mitigating temporary and permanent challenges that the world will uptake during the COVID-19 post era. The Korean New Deal seeks to turn Korea into a smart (based on digital transformation), green (achieve balance among people, nature and growth) and safe country (invest in human resource to guarantee employment and social safety). To this end, the Korean government plans to introduce two main policies –the Digital New Deal and the Green New Deal – and an overarching policy to strengthen the employment and social safety net.
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The Ministry of Economy and Finance (MOEF) has released an English booklet – Korean New Deal: National Strategy for a Great Transformation to share a national development strategy to support the country’s recovery from the pandemic crisis and lead the global action against structural changes with the international community.
The Free Trade Agreement (FTA) between the Republic of Korea and Central America enter effect as of March 1, 2021. The mission of this FTA is to strengthen the commercial relationship between Korea and CA and to increase the cooperation, trade and investments between the parties involved.