South Korea
Photo by Melody Zhang on Unsplash
Can the Korean New Deal deliver?
The world’s tenth-largest economy by nominal GDP, South Korea is a prosperous, technologically advanced democracy with world-leading electronics, culture, consumer goods and automotive industries – all of which has been achieved in the space of just a couple of generations.
Following the end of the Korean War in 1953, the newly partitioned South Korea was one of the poorest countries in the world, with an outmoded agrarian economy further stymied by mass illiteracy, lack of investment and extensive war damage. But from the 1960s onwards a massive state programme of export-led industrialisation, investment and education led to a remarkable sustained boom, boasting the fastest rise in GDP per capita in the world between 1980 and 1990.
Following mass protests in 1987, Korea’s repressive military junta was progressively replaced by a liberal democracy – albeit one marred by repeated scandal and corruption, with all four living former presidents having served prison sentences for embezzlement, bribery and abuse of office. Since then Korea’s transformation into a high-income, socially free society has continued unabated; its low debt and high fiscal reserves even meant it was one of the few countries to avoid a recession following the 2008 global financial crisis.
Policy-wise, Korea’s green economic ambition is middle of the road – which itself is perhaps somewhat disappointing given its history of state-directed economic transformation. In December 2020, Korea unveiled its Carbon Neutral Strategy, setting out a roadmap to achieve carbon neutrality by 2050. The Strategy builds on existing legislation, primarily the 2010 Framework Act on Low Carbon Green Growth which set a foundation for subsequent policy action and mandated the development of strategies for green growth, climate and energy.
While the neutrality goal is laudable – especially considering that Korea has one of the most energy intensive industrial infrastructures in the world – the country’s current Paris Agreement NDC falls well short of targets put forward by other developed countries and is not in line with limiting global warming to 1.5 degrees.
On social policies South Korea also has some notable weak spots, especially around rising inequality and poverty levels amongst the elderly. Very high life expectancies, a rapidly aging population, chronically under-funded public pensions and some of the lowest state spending on social care in the OECD are all contributing to a growing sense of crisis, but efforts to alleviate this have achieved little, and there are few direct linkages between social welfare programmes and the country’s carbon neutral vision. Emblematic of this failure is the country's cratering birthrate: a mere 0.72 babies per woman in 2024, well below the 2.1 needed to maintain population stability.
The country’s response to COVID-19 was encouraging, however. In July 2020 President Moon Jae-In announced a USD$144 billion recovery packaged dubbed the “Korean New Deal”, aiming to transform the economy along the three axes of inclusion, digital economy and green technology. Green measures predominantly fall under the USD$38 billion “Green New Deal” (GND) component, including massive investment in electric vehicles, renewables, energy efficiency, ecosystem restoration and green SMEs. There is also a notable focus on inclusion, with green job training schemes, widened social security payments and pilot schemes for low-income benefits.
South Korea's 20th century history remains proof that dramatic structural reform can be achieved on a tight timeline and to the benefit of millions. Whether it can repeat its remarkable transformation as it grapples with the new challenges of the 21st century - it's ticking demographic timebomb chief among them - remains to be seen.
Photo by Melody Zhang on Unsplash
Policy Scores
Last updated 18 Dec 2025
Governance
National Green Economy Planning
South Korea has long positioned green growth as a national development priority. The Framework Act on Low Carbon, Green Growth (2009) established the legal basis for integrating environmental sustainability with economic development. This was followed by the National Strategy for Green Growth and a Five-Year Plan for Green Growth, which included sectoral targets and investment plans. More recently, the Carbon Neutrality and Green Growth Act (2022) mandates net-zero by 2050 and requires ministries to submit sectoral implementation plans. The Strategic Roadmap for Korea’s Green Transition, developed by the Korea Development Institute (KDI), outlines pathways for decarbonisation, innovation, and resilience. While the framework is legally binding and multi-sectoral, it is not consolidated into a single, unified green economy plan, and some intermediate targets remain under development.
South Korea has long positioned green growth as a national development priority. The Framework Act on Low Carbon, Green Growth (2009) established the legal basis for integrating environmental sustainability with economic development. This was followed by the National Strategy for Green Growth and a Five-Year Plan for Green Growth, which included sectoral targets and investment plans. More recently, the Carbon Neutrality and Green Growth Act (2022) mandates net-zero by 2050 and requires ministries to submit sectoral implementation plans. The Strategic Roadmap for Korea’s Green Transition, developed by the Korea Development Institute (KDI), outlines pathways for decarbonisation, innovation, and resilience. While the framework is legally binding and multi-sectoral, it is not consolidated into a single, unified green economy plan, and some intermediate targets remain under development.
Inclusive Corporate Governance
South Korea does not mandate inclusive corporate governance measures such as employee representation on boards or binding gender quotas in the private sector. Corporate governance reporting has expanded (e.g., KOSPI-listed companies must publish governance reports), and sustainability disclosure is being prepared through jurisdictional standards aligned with IFRS S1/S2 under the Korea Sustainability Standards Board (KSSB), with phased application expected from FY2026. The Framework Act on Carbon Neutrality and Green Growth (2021) provides broad stakeholder-engagement provisions for climate governance but does not create binding inclusive-governance duties for firms. ESG/SDG alignment remains largely disclosure-driven and voluntary pending full adoption of the new standards.
South Korea does not mandate inclusive corporate governance measures such as employee representation on boards or binding gender quotas in the private sector. Corporate governance reporting has expanded (e.g., KOSPI-listed companies must publish governance reports), and sustainability disclosure is being prepared through jurisdictional standards aligned with IFRS S1/S2 under the Korea Sustainability Standards Board (KSSB), with phased application expected from FY2026. The Framework Act on Carbon Neutrality and Green Growth (2021) provides broad stakeholder-engagement provisions for climate governance but does not create binding inclusive-governance duties for firms. ESG/SDG alignment remains largely disclosure-driven and voluntary pending full adoption of the new standards.
Participatory Policymaking
South Korea has institutionalized public consultation through mechanisms such as the National Assembly’s e-Petition system, public hearings, and stakeholder engagement in SDG implementation. The Voluntary National Review (VNR) process includes consultations with civil society, academia, and local governments. However, while participatory mechanisms are active, impact assessments for marginalised groups (e.g. IP/LCs, people with disabilities) are not systematically mandated across all policy areas.
South Korea has institutionalized public consultation through mechanisms such as the National Assembly’s e-Petition system, public hearings, and stakeholder engagement in SDG implementation. The Voluntary National Review (VNR) process includes consultations with civil society, academia, and local governments. However, while participatory mechanisms are active, impact assessments for marginalised groups (e.g. IP/LCs, people with disabilities) are not systematically mandated across all policy areas.
Beyond GDP
Statistics Korea (KOSTAT) publishes a national Quality of Life/Well-being dashboard (11 domains, 70+ indicators) and compiles environmental-economic accounts in line with the SEEA (e.g., air emissions, environmental taxes, material flows), reported through international statistical systems. These are used across planning and evaluation but are not yet integrated into a single, national comprehensive wealth framework covering human, social, natural, and produced/financial capital for routine budgeting decisions.
Statistics Korea (KOSTAT) publishes a national Quality of Life/Well-being dashboard (11 domains, 70+ indicators) and compiles environmental-economic accounts in line with the SEEA (e.g., air emissions, environmental taxes, material flows), reported through international statistical systems. These are used across planning and evaluation but are not yet integrated into a single, national comprehensive wealth framework covering human, social, natural, and produced/financial capital for routine budgeting decisions.
Finance
Green Finance & Banking
South Korea has put in place a K-Taxonomy to classify green and transitional activities and guide finance; the Ministry of Environment has also supported green bond issuance and environmental information disclosure. Financial regulators are moving toward ISSB-aligned sustainability reporting, and domestic banks have actively issued green/social/sustainability bonds. The Bank of Korea has produced climate scenario analyses and research on macro-financial impacts of climate risk (2024–2025). However, mandatory, regular environmental/social stress-testing across all financial institutions is not yet in force; climate scenario work remains analytical or pilot-oriented.
South Korea has put in place a K-Taxonomy to classify green and transitional activities and guide finance; the Ministry of Environment has also supported green bond issuance and environmental information disclosure. Financial regulators are moving toward ISSB-aligned sustainability reporting, and domestic banks have actively issued green/social/sustainability bonds. The Bank of Korea has produced climate scenario analyses and research on macro-financial impacts of climate risk (2024–2025). However, mandatory, regular environmental/social stress-testing across all financial institutions is not yet in force; climate scenario work remains analytical or pilot-oriented.
Greening Fiscal & Monetary Policy
South Korea demonstrates strong green fiscal integration. It has issued USD 500 million sovereign sustainability bonds (2023), expanded green bonds via KGHC and KEPCO (USD 500 million each), and a USD 1 billion green IVF market by 2024. The Ministry of Environment runs subsidized loans for clean energy and green transformation. Tax incentives for EVs, renewable energies, and energy-efficient technologies have been expanded. In 2024, the government ceased overseas coal project financing and implemented a roadmap to phase out 20 domestic coal plants by 2034. Public procurement continues under the Green Purchasing Act (2005).
South Korea demonstrates strong green fiscal integration. It has issued USD 500 million sovereign sustainability bonds (2023), expanded green bonds via KGHC and KEPCO (USD 500 million each), and a USD 1 billion green IVF market by 2024. The Ministry of Environment runs subsidized loans for clean energy and green transformation. Tax incentives for EVs, renewable energies, and energy-efficient technologies have been expanded. In 2024, the government ceased overseas coal project financing and implemented a roadmap to phase out 20 domestic coal plants by 2034. Public procurement continues under the Green Purchasing Act (2005).
Green Trade Practices
South Korea’s green-trade posture is channelled through FTAs like the EU–Korea FTA and participation in CPTPP, whose environment/TSD chapters enable dialogue, civil-society forums and panels of experts, but do not operate as binding market-access mechanisms for environmental goods and services (EGS), nor do they embed interoperability of carbon pricing or green taxonomies. Domestically, Korea runs the K-ETS (operational since 2015), and in December 2024 adopted the 4th Basic Plan for the ETS covering Phase IV (2026–2030) and Phase V (2031–2035), tightening compliance and aligning with the Carbon Neutral Framework Act; authorities are also preparing exporters for EU CBAM via targeted support programmes. Korea has a K-Taxonomy and green-bond guidance, but there is no evidence that its FTAs include UNFCCC/CBDR-linked market-access exemptions or formal linkages to partners’ ETS/taxonomy frameworks.
South Korea’s green-trade posture is channelled through FTAs like the EU–Korea FTA and participation in CPTPP, whose environment/TSD chapters enable dialogue, civil-society forums and panels of experts, but do not operate as binding market-access mechanisms for environmental goods and services (EGS), nor do they embed interoperability of carbon pricing or green taxonomies. Domestically, Korea runs the K-ETS (operational since 2015), and in December 2024 adopted the 4th Basic Plan for the ETS covering Phase IV (2026–2030) and Phase V (2031–2035), tightening compliance and aligning with the Carbon Neutral Framework Act; authorities are also preparing exporters for EU CBAM via targeted support programmes. Korea has a K-Taxonomy and green-bond guidance, but there is no evidence that its FTAs include UNFCCC/CBDR-linked market-access exemptions or formal linkages to partners’ ETS/taxonomy frameworks.
Pricing Carbon
South Korea operates the Korea Emissions Trading System (K-ETS), a mandatory national cap-and-trade scheme launched in 2015 and currently in Phase III (2021–2025). The scheme sets sectoral caps, uses mixed free allocation and auctions, and is legally anchored in the Framework Act on Carbon Neutrality and Green Growth; allocation plans are aligned with national GHG targets (including a 2030 target of −40% vs. 2018). Coverage is among the highest globally (around 70–79% of national emissions), with 2024 reforms aimed at enhancing liquidity and participation.
South Korea operates the Korea Emissions Trading System (K-ETS), a mandatory national cap-and-trade scheme launched in 2015 and currently in Phase III (2021–2025). The scheme sets sectoral caps, uses mixed free allocation and auctions, and is legally anchored in the Framework Act on Carbon Neutrality and Green Growth; allocation plans are aligned with national GHG targets (including a 2030 target of −40% vs. 2018). Coverage is among the highest globally (around 70–79% of national emissions), with 2024 reforms aimed at enhancing liquidity and participation.
Sectors
Cross-Sectoral Planning
South Korea has a comprehensive, multi-sectoral decarbonisation framework (2050 Carbon Neutrality Strategy, 2030 GHG roadmap, Carbon Neutrality Act adopted in 2021, Emissions Trading Scheme, and the 11th Basic Plan for Electricity, among other strategies). Full decarbonisation mandated for the public sector by 2045 and public buildings by 2030.
South Korea has a comprehensive, multi-sectoral decarbonisation framework (2050 Carbon Neutrality Strategy, 2030 GHG roadmap, Carbon Neutrality Act adopted in 2021, Emissions Trading Scheme, and the 11th Basic Plan for Electricity, among other strategies). Full decarbonisation mandated for the public sector by 2045 and public buildings by 2030.
Circular Economy
South Korea’s circular economy framework is grounded in the Act on the Promotion of Saving and Recycling of Resources, the Wastes Control Act, and mandatory Green Public Procurement under the Act on the Promotion of Purchase of Green Products (criteria updated Jan 2025). The Ministry of Environment is implementing the 3rd Basic Plan for Resource Circulation with K-Eco-Design measures, and announced a new Roadmap for a Plastic-Free Circular Economy in Sept 2025. Extended Producer Responsibility (EPR) systems are in place for packaging, batteries and electronics, and annual white papers track material-flow indicators. Korea does not set a legislated Circular Material Use Rate (CMUR) target.
South Korea’s circular economy framework is grounded in the Act on the Promotion of Saving and Recycling of Resources, the Wastes Control Act, and mandatory Green Public Procurement under the Act on the Promotion of Purchase of Green Products (criteria updated Jan 2025). The Ministry of Environment is implementing the 3rd Basic Plan for Resource Circulation with K-Eco-Design measures, and announced a new Roadmap for a Plastic-Free Circular Economy in Sept 2025. Extended Producer Responsibility (EPR) systems are in place for packaging, batteries and electronics, and annual white papers track material-flow indicators. Korea does not set a legislated Circular Material Use Rate (CMUR) target.
Green Transport & Mobility
South Korea targets 100% electrified new passenger vehicle sales by 2035, including HEV, PHEV, BEV, and FCEV. National support combines Clean Energy Vehicle (CEV) subsidies, charging-infrastructure expansion, and the Hydrogen Economy Roadmap 2040, which foresees 6.2 million FCEVs and 1,200 stations by 2040. The GX framework embeds these goals, and hydrogen buses are projected to penetrate intercity fleets by 2030. Major cities like Seoul have local zero-emission bus commitments, but there is no binding national mandate for full electrification of public, private and freight mobility by 2030.
South Korea targets 100% electrified new passenger vehicle sales by 2035, including HEV, PHEV, BEV, and FCEV. National support combines Clean Energy Vehicle (CEV) subsidies, charging-infrastructure expansion, and the Hydrogen Economy Roadmap 2040, which foresees 6.2 million FCEVs and 1,200 stations by 2040. The GX framework embeds these goals, and hydrogen buses are projected to penetrate intercity fleets by 2030. Major cities like Seoul have local zero-emission bus commitments, but there is no binding national mandate for full electrification of public, private and freight mobility by 2030.
Clean Energy
South Korea is repositioning its energy mix, yet fossil fuels still dominate. In 2024, coal and LNG made up 60% of electricity—coal alone accounting for 27%, nuclear for 19%, and renewables 15%. The 11th Basic Plan for Electricity Supply & Demand (2025–2038) aims for 70% clean generation by 2038, including 50% from nuclear and renewables. The 9th Basic Energy Plan (2023) sets an interim 40% renewables target by 2034 and envisions retiring 60 coal plants. Additionally, South Korea joined the Powering Past Coal Alliance in 2024 and officially ended overseas coal financing
South Korea is repositioning its energy mix, yet fossil fuels still dominate. In 2024, coal and LNG made up 60% of electricity—coal alone accounting for 27%, nuclear for 19%, and renewables 15%. The 11th Basic Plan for Electricity Supply & Demand (2025–2038) aims for 70% clean generation by 2038, including 50% from nuclear and renewables. The 9th Basic Energy Plan (2023) sets an interim 40% renewables target by 2034 and envisions retiring 60 coal plants. Additionally, South Korea joined the Powering Past Coal Alliance in 2024 and officially ended overseas coal financing
Just Transition
Green Job Creation
South Korea’s green job programmes have evolved but remain interim and underdeveloped. Following the 2008 financial crisis, the country launched the Green New Deal Plan, promising up to 1 million "green" jobs—many tied to controversial infrastructure projects like the Four Major Rivers restoration. In response to COVID‑19, Korea’s second Green New Deal allocated ₩12.9 trillion (US $10.5 billion) aiming to create 133,000 jobs through energy-efficient retrofits, urban greening, and recycling expansions . However, these job efforts have been critiqued for being temporary, low-quality, and lacking support for brown-to-green transitions or vulnerable groups. As such, while green job creation is recognized and there are efforts for implementation, this area lacks a long-term planning and inclusive strategies.
South Korea’s green job programmes have evolved but remain interim and underdeveloped. Following the 2008 financial crisis, the country launched the Green New Deal Plan, promising up to 1 million "green" jobs—many tied to controversial infrastructure projects like the Four Major Rivers restoration. In response to COVID‑19, Korea’s second Green New Deal allocated ₩12.9 trillion (US $10.5 billion) aiming to create 133,000 jobs through energy-efficient retrofits, urban greening, and recycling expansions . However, these job efforts have been critiqued for being temporary, low-quality, and lacking support for brown-to-green transitions or vulnerable groups. As such, while green job creation is recognized and there are efforts for implementation, this area lacks a long-term planning and inclusive strategies.
Just Transition Frameworks
The carbon-neutrality law embeds just-transition principles and enables Just Transition Support Centers for affected regions and sectors; central funding channels (e.g., the Climate Response Fund) and provincial initiatives (e.g., Chungnam Just Transition Fund) are advancing pilots for coal regions. National guidance and territorial planning are growing, but an integrated, sector-by-sector just-transition framework with standard benefit-sharing rules is still taking shape.
The carbon-neutrality law embeds just-transition principles and enables Just Transition Support Centers for affected regions and sectors; central funding channels (e.g., the Climate Response Fund) and provincial initiatives (e.g., Chungnam Just Transition Fund) are advancing pilots for coal regions. National guidance and territorial planning are growing, but an integrated, sector-by-sector just-transition framework with standard benefit-sharing rules is still taking shape.
Greening MSMEs & Social Enterprise
South Korea has a separate legal form and statutory support for social enterprises under the Social Enterprise Promotion Act (2007; amended), administered by the Korea Social Enterprise Promotion Agency (KoSEA). The government implements a comprehensive support ecosystem—subsidies, training, procurement preferences, and the Fourth Social Enterprise Promotion Master Plan (2023–2027)—and operates targeted instruments for green ventures (e.g., certification and support under the Environmental Technology and Industry Support Act, venture funds, and incubators such as ETBI). This framework enables MSMEs and social ventures to adopt green models with financial and technical support.
South Korea has a separate legal form and statutory support for social enterprises under the Social Enterprise Promotion Act (2007; amended), administered by the Korea Social Enterprise Promotion Agency (KoSEA). The government implements a comprehensive support ecosystem—subsidies, training, procurement preferences, and the Fourth Social Enterprise Promotion Master Plan (2023–2027)—and operates targeted instruments for green ventures (e.g., certification and support under the Environmental Technology and Industry Support Act, venture funds, and incubators such as ETBI). This framework enables MSMEs and social ventures to adopt green models with financial and technical support.
Inclusive Social Protection
South Korea’s social protection efforts remain conventional and disconnected from any green economy goals. The recent public pension reform passed in 2025 (raising contribution rates from 9% to 13%) targets demographic sustainability, not environmental outcomes. The Senior Employment Program supports 840,000 workers aged 60+ with temporary job placements, which is important for elderly income security, but not explicitly ‘green’. Other support like the non-conditional COVID cash transfers addresses short-term poverty but lacks any linkage to climate or sustainability strategies. No national policy integrates social protection with low-carbon transition planning.
South Korea’s social protection efforts remain conventional and disconnected from any green economy goals. The recent public pension reform passed in 2025 (raising contribution rates from 9% to 13%) targets demographic sustainability, not environmental outcomes. The Senior Employment Program supports 840,000 workers aged 60+ with temporary job placements, which is important for elderly income security, but not explicitly ‘green’. Other support like the non-conditional COVID cash transfers addresses short-term poverty but lacks any linkage to climate or sustainability strategies. No national policy integrates social protection with low-carbon transition planning.
Nature
Ocean & Land Conservation
Korea adopted its Fifth National Biodiversity Strategy (2024–2028), aligning with the Kunming-Montreal GBF and SDGs 14/15, with measures across protected areas, restoration, finance, and monitoring; implementation draws on multiple agencies (ME, MOF, KFS, etc.). Marine and terrestrial planning continues under existing nature laws and programmes. Interim progress reporting is specified in the strategy, though some GBF-aligned metrics will mature as implementation proceeds.
Korea adopted its Fifth National Biodiversity Strategy (2024–2028), aligning with the Kunming-Montreal GBF and SDGs 14/15, with measures across protected areas, restoration, finance, and monitoring; implementation draws on multiple agencies (ME, MOF, KFS, etc.). Marine and terrestrial planning continues under existing nature laws and programmes. Interim progress reporting is specified in the strategy, though some GBF-aligned metrics will mature as implementation proceeds.
Natural Capital Accounting
South Korea has developed environmental-economic accounting frameworks such as KORSEEA and NAMEA, integrating environmental indicators into national accounts and statistics (energy, emissions, resource use), and participates in the SEEA global assessment. Nonetheless, integration into fiscal planning and infrastructure decision-making remains limited, and there is no independent statutory advisory body with a mandate to provide expert advice on natural capital in budget or investment processes.
South Korea has developed environmental-economic accounting frameworks such as KORSEEA and NAMEA, integrating environmental indicators into national accounts and statistics (energy, emissions, resource use), and participates in the SEEA global assessment. Nonetheless, integration into fiscal planning and infrastructure decision-making remains limited, and there is no independent statutory advisory body with a mandate to provide expert advice on natural capital in budget or investment processes.
Sustainable Agriculture & Food Systems
Korea promotes sustainable agriculture through the Act on the Promotion of Environment-Friendly Agriculture and Fisheries and the Organic Foods Act, supported by certification and subsidy schemes. The government submitted a National Food Plan to the UN Food Systems Summit, aligning with SDGs 2 and 12 and addressing eco-friendly production, diets and resilience. Korea also enforces one of the strictest food-waste regimes globally: a landfill ban (2005), RFID pay-as-you-throw charging (2013), and high recycling mandates, integrated into the resource-circulation strategy. These frameworks support sustainability, but there is no unified food systems strategy with a quantified ecological-footprint target or a time-bound phase-out of harmful subsidies.
Korea promotes sustainable agriculture through the Act on the Promotion of Environment-Friendly Agriculture and Fisheries and the Organic Foods Act, supported by certification and subsidy schemes. The government submitted a National Food Plan to the UN Food Systems Summit, aligning with SDGs 2 and 12 and addressing eco-friendly production, diets and resilience. Korea also enforces one of the strictest food-waste regimes globally: a landfill ban (2005), RFID pay-as-you-throw charging (2013), and high recycling mandates, integrated into the resource-circulation strategy. These frameworks support sustainability, but there is no unified food systems strategy with a quantified ecological-footprint target or a time-bound phase-out of harmful subsidies.
Nature Finance
The K-ETS (in force since 2015) is the core pricing instrument for nature- and climate-relevant externalities; Korea has also issued a K-Taxonomy (guidelines to steer green finance) and is phasing in sustainability disclosure standards via the FSC/KSSB. Work to curb harmful subsidies is uneven (e.g., biomass REC reforms are underway), and explicit, large-scale nature-positive fiscal reforms and IPLC-targeted mechanisms are limited in the Korean context.
The K-ETS (in force since 2015) is the core pricing instrument for nature- and climate-relevant externalities; Korea has also issued a K-Taxonomy (guidelines to steer green finance) and is phasing in sustainability disclosure standards via the FSC/KSSB. Work to curb harmful subsidies is uneven (e.g., biomass REC reforms are underway), and explicit, large-scale nature-positive fiscal reforms and IPLC-targeted mechanisms are limited in the Korean context.
Green Recovery
Green Recovery Measures
The Korean New Deal (2020) and Korean New Deal 2.0 (2021) anchored post-COVID recovery in green + digital investment, with multi-year budgets for building retrofits, clean mobility, grids, hydrogen/renewables, and nature projects, and continuing appropriations through MOEF budgets. Measures created jobs and aimed at structural transition; subsequent policy cycles retained green investment lines even as implementation timelines were adjusted.
The Korean New Deal (2020) and Korean New Deal 2.0 (2021) anchored post-COVID recovery in green + digital investment, with multi-year budgets for building retrofits, clean mobility, grids, hydrogen/renewables, and nature projects, and continuing appropriations through MOEF budgets. Measures created jobs and aimed at structural transition; subsequent policy cycles retained green investment lines even as implementation timelines were adjusted.