April 22 (UPI) -- South Korea is proposing a "digital New Deal" as part of a coronavirus stimulus package that will further develop online platforms while generating new jobs amid global economic uncertainty.
President Moon Jae-in said Wednesday an additional $72.8 million will be deployed to support companies in crisis and build a path toward creating as many as 550,000 jobs, Yonhap reported.
"There must be jobs in order for people's livelihoods and for the economy to flourish," Moon said.
Seoul has enacted fiscal stimulus plans providing $121.3 billion to prevent the economy from sliding further into a recession. On Wednesday Moon suggested economic woes could occupy the country for months.
"The crisis is at its beginning stages. Companies are confronting the crisis alongside hiring freezes," Moon said. "If these challenges are not met with a broad response, employment shocks that may have not been experienced in a long time could occur."
Moon's spokesman Kang Min-seok said the South Korean leader is also responding to the challenges of the "post-coronavirus era" with a "digital New Deal."
As social distancing guidelines shuttered offices and schools, South Koreans have adapted to teleworking and attending teleconferenced classes. Seoul's policy could be leaning toward job creation in information technology.
On Wednesday Kang said recent changes signal the era of the "digital workplace." Government policies are to support industries developing digital platforms and working on big data projects, according to local television network MBC.
Seoul is planning steps to generate more than 500,000 jobs in the public sector and for younger workers in the tech field. Concerns have been rising of unprecedented mass layoffs.
"The government's measures are a break from the past, focusing on more than responding to sharing the burden of layoffs and corporate restructuring," the presidential Blue House said.
South Korea's stimulus package includes compensation for workers on unpaid leave and freelancers, according to MBC.
