February 27, 2020 / 11:30 PM / a month ago

South Korea vows to calm markets, sees virus slamming economic data

FILE PHOTO: A woman wearing a mask to prevent contracting the coronavirus shops at a traditional market in Seoul, South Korea, February 27, 2020. REUTERS/Heo Ran

SEOUL (Reuters) - South Korea’s vice finance minister on Friday vowed to deploy “all possible measures” to stabilize financial markets as he sees economic indicators from production to consumption dwindling from the increasing number of new coronavirus infections.

Speaking before a policy meeting in Seoul, Kim Yong-beom said the government plans to include support measures for businesses hit by the virus outbreak as it drafts supplementary budget.

South Korea reported 505 additional coronavirus infections in its largest daily increase on Thursday, taking the national tally to 1,766.

Reporting by Cynthia Kim; Editing by Sandra Maler

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