Major Korean New Deal projects are being reduced or halted after failing to meet their original targets, despite the Moon Jae-in administration’s pledge to invest 220 trillion won ($158 billion) by 2025. The Ministry of SMEs and Startups will complete Green Startup Town construction in Busan and Jinju next year, select no additional sites and shift future regional hub demand to the existing Startup Park program. Launched in 2020, Green Startup Town was designed to combine startup offices, incubation, research and development, investment and networking with housing, cultural and welfare facilities. Its core functions overlapped with Startup Park, which began in 2019. Only Cheonan is operating among six selected sites; Gwangju, Daegu and Wonju await local approvals, while Busan and Jinju remain under construction. The program’s budget will fall 84% to 3.6 billion won next year from 22.5 billion won, and future operations will rely on local government funding. Other New Deal initiatives, including smart hospitals, residential smart power, renewable-energy research and Smart Green City, were also reduced, delayed or ended as demand, performance and policy priorities shifted after the change of government.