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South Korea doubles rescue package to $80 billion amid coronavirus woes

Published 03/23/2020, 11:21 PM
Updated 03/23/2020, 11:25 PM
© Reuters. FILE PHOTO - South Korea's President Moon Jae-in speaks during a ceremony in Seoul

SEOUL (Reuters) - South Korea President Moon Jae-in said on Tuesday the government will double a planned rescue package to contain mounting economic and financial fallout from the coronavirus to 100 trillion won ($80 billion).

© Reuters. FILE PHOTO - South Korea's President Moon Jae-in speaks during a ceremony in Seoul

The government will expand policy financing loans for small- to medium-sized companies, help them keep jobs, and inject liquidity into financial markets by buying corporate bonds.

 

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