South Korea's ruling bloc has called for drastic and bold measures to ride out the economic crisis from the coronavirus outbreak, hinting at an additional supplementary budget. 

Top officials of the government, presidential office and the ruling Democratic Party held a meeting on Wednesday at the National Assembly to discuss the response to the COVID-19 outbreak. 

Former Prime Minister Lee Nak-yon, who is leading the ruling party's election strategy committee, said the situation surrounding the epidemic has significantly changed, but the latest extra budget fell short and couldn't reflect all those changes. 

Lee called on the government and the ruling party to quickly devise additional measures and to consider an additional supplementary budget.

DP Floor Leader Lee In-young said the party will closely communicate with financial and fiscal authorities through the assembly and produce all possible market stabilization measures.  

Lee called for drastic new methods to ride out the "unprecedented" crisis, asking financial authorities to not only devise market stabilization measures but also seek currency swap deals with other countries.