South Korea ready to boost policy support should virus outbreak worsen: vice finance minister

Christel Deskins

SEOUL (Reuters) – South Korea is ready to boost policy support to aid the economy hammered by the coronavirus should the rate of infection worsen significantly, its vice finance minister said on Tuesday. © Reuters/Kim Hong-Ji FILE PHOTO: The logo of the Bank of Korea is seen on the top […]

SEOUL (Reuters) – South Korea is ready to boost policy support to aid the economy hammered by the coronavirus should the rate of infection worsen significantly, its vice finance minister said on Tuesday.



a close up of a tree: FILE PHOTO: The logo of the Bank of Korea is seen on the top of its building in Seoul


© Reuters/Kim Hong-Ji
FILE PHOTO: The logo of the Bank of Korea is seen on the top of its building in Seoul

“(Some) downturns are inevitable in the real economy due to the tightened preventive measures,” Kim Yong-beam said at a policy meeting, adding policies will be reinforced as needed.



a large city with tall buildings in the background with Victoria Peak in the background: FILE PHOTO: An apartment complex which is currently under construction is seen in Seoul


© Reuters/Kim Hong-Ji
FILE PHOTO: An apartment complex which is currently under construction is seen in Seoul

Kim also said authorities stand ready to act to stabilize financial markets if needed, as a number of factors outside the COVID-19 outbreak including leadership changes in Japan and uncertainty in the United States could also increase market volatilities.



a view of a city: FILE PHOTO: A truck drives between shipping containers at a container terminal at Incheon port in Incheon


© Reuters/Kim Hong-Ji
FILE PHOTO: A truck drives between shipping containers at a container terminal at Incheon port in Incheon

(Reporting by Cynthia Kim; Editing by Himani Sarkar)



a close up of a bridge: A worker is seen at a construction site for a financial building in Seoul


© Reuters/Kim Kyung Hoon
A worker is seen at a construction site for a financial building in Seoul

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