South Korea to Make 5G and AI Centerpieces of 'Korean New Deal'

South Korea will make artificial intelligence and wireless communications centerpieces of what it is touting as a "New Deal" to create jobs and boost growth after the coronavirus pandemic subsides. The government, in a statement Thursday, said it will promote AI and fifth-generation wireless technology to support the economy once the virus is brought under control. The statement said funding would come from a third emergency budget being drafted now and from annual budgets through 2022, but didn't specify the amount. Korea's first two extra budgets already amount to biggest sum in decades President Moon Jae-in, after last month's big election victory, said his government would pursue large-scale state projects to boost jobs and innovation in the post-virus era. He compared his vision to the New Deal launched by President Franklin Roosevelt in the 1930s to help the U.S. recover from the Great Depression.