World News

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

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).

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.

(Reporting by Cynthia Kim; Editing by Himani Sarkar)

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