President Moon Jae-in has announced plans to double the size of his administration's emergency-financing aid package to 100 trillion won for local businesses strained due to the novel coronavirus outbreak.
Speaking at the second session of the emergency economic council, Moon said the government will strive to prevent the huge crisis facing the nation's firms.
The original 50-trillion-won aid plan was aimed at helping out small and medium-sized firms, tiny shop owners and the self-employed through government-backed loans and guarantees.
The expanded package covers conglomerates and other major companies.
It also includes a bond market stabilization fund and securities market stabilization fund.■
<Photo: Yonhap News>
