March 19, 2020 / 3:09 AM / 15 days ago

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

A woman wearing a mask to prevent contracting the coronavirus looks at a view of central Seoul, South Korea, March 17, 2020. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - South Korea’s President Moon Jae-in on Thursday pledged 50 trillion won (33.93 billion pounds) 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

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