President Moon Jae-in says the Korean New Deal initiative aims to go beyond being a short-term project to overcome the crisis at hand to become a vision of the future designed to bring about a great transformation of the nation. 

Moon made the remark on Monday as he wrapped up the sixth emergency economic council meeting where the five year, 76-trillion-won project was outlined. 

He instructed officials to create a pan-government system to carry out the ambitious initiative and also called for related policies to be further supplemented through ruling bloc consultations. 

The president explained that more detailed plans are scheduled to be announced next month, adding they will be more comprehensive in scope, larger in scale and include longer-term perspectives. 

The new scheme, announced together with the government’s economic policy direction for the second half of the year, will focus on digitalization and green growth, through which the government expects to create some 550-thousand jobs by 2022.