President Moon Jae-in says the government will explore special, unconventional measures to deal with the growing economic ramifications of the novel coronavirus outbreak. 

Moon made the remark at a Cabinet meeting on Tuesday, adding the 11-point-seven trillion won supplementary budget plan is only the beginning of Seoul's countermeasures to cope with the pandemic. He said he will preside over an emergency economic meeting to be held later to help draft related policies. 

The president said the challenges from COVID-19 are worse than the global financial crisis in 2008 and declared the current state an unprecedented emergency economic situation. 

He called for swift responses to anxiety in the financial and foreign exchange markets and stressed a timely provision of liquidity.