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Moon Pledges Another Coronavirus Relief Package to Revive Exports, Domestic Demand

Write: 2020-04-08 12:21:35Update: 2020-04-08 18:44:08

Photo : YONHAP News

President Moon Jae-in pledged another coronavirus relief package worth 53-point-seven trillion won to help revive exports and domestic demand amid the COVID-19 pandemic.

Chairing the fourth emergency economic meeting on Wednesday, Moon said the government will provide at least 36 trillion won in additional trade finance for domestic exporters struck by the collapse of global supply chains and a trade downturn.

The president vowed that his administration will make sure no business misses an opportunity to export due to liquidity problems.

Moon also announced additional aid totaling 17-point-seven trillion won to promote domestic consumption, including at least three-point-three trillion won that will be spent as part of the public sector's participation in the so-called "pre-payment" campaign.

A package of measures offering 12 trillion won in various tax breaks for small business owners was also announced.

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