World News

South Korea pledge $39 billion in emergency financing for virus-hit businesses

SEOUL (Reuters) – South Korea’s President Moon Jae-in on Thursday pledged 50 trillion won ($39 billion) in emergency financing for small businesses along with other stimulus measures to help shore up its economy, which has been battered by the coronavirus crisis.

The other measures include relaxing loan terms for small businesses and offering low interest loans. The government also promised to guarantee loans for those hit by the virus impact.

(Reporting by Joori Roh; Editing by Tom Hogue)