FACTBOX-South Korean measures to stave off crisis

(Reuters) - South Korea's top economic officials met on Sunday to review falling financial markets and the economy and discuss any further steps to try to shield it against more damage from the spreading global downturn.

The following is a summary of key measures South Korea has taken since September to shore up Asia's fourth-largest economy and its financial markets in the face of a global financial turmoil and economic recession:

GOVERNMENT FISCAL SPENDING MEASURES

November 3 - The government unveils an economic stimulus package worth at least 14 trillion won (6.3 billion pounds), including tax cuts, in an attempt to secure a soft landing for the local economy.

September 18 - Parliament approves a 4.57 trillion won supplementary budget for 2008, focussing on easing the impact of high oil prices and developing overseas energy and resources.

CENTRAL BANK MEASURES

November 19 - The Bank of Korea injects 1 trillion won into financial system by purchasing Treasuries.

November 11 - The Bank of Korea begins to buy bank bonds. The central bank injects 1 trillion won into local banking system via 63-day repurchase agreements with bonds issued by banks serving as collateral.

November 7 - The Bank of Korea cuts its policy rate by 25 basis points to 4.00 percent, the third cut in a month, amid growing concerns over fast cooling economy. [ID:nSEO51448]