Korea plans massive W50tr injection to resuscitate virus-hit economy

SEOUL, March 19 (The Korea Herald/ANN) -- South Korea is planning a series of measures amounting to W50tr to save its virus-hit economy.

Deadlines on corporate loans will be extended, and a fund to stabilize the country’s stock markets will be established as part of Seoul’s efforts to deal with the economic impact of the COVID-19 outbreak.

According to the presidential office and financial authorities, these and other measures were decided at the first emergency economy conference held Thursday. At the meeting, Moon once again stressed the importance of the speed with which government aid is rolled out, urging officials to take steps to ease regulations to facilitate the injection of funds into the market.

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