The government on Monday announced a plan to activate a bond market stabilization fund worth five trillion won, or three-point-74 billion U.S. dollars, through a capital call to ease lingering liquidity crunch concerns.

The plan was part of the measures discussed during an emergency macroeconomic finance meeting presided over by finance minister Choo Kyung-ho and came after the activation of similar funds worth three trillion won a month earlier.

Minister Choo assessed that local market jitters eased with the increase of liquidity supply programs to 50 trillion won or more since October to address concerns over a liquidity crunch prompted in part by a default on debt repayment by a developer of Legoland Korea.

However, the minister cited lingering concerns and variables, such as high interest rates, forthcoming inflation data overseas and the cargo truck drivers’ strike, as considerations behind the latest market stabilization measures.

To help ease the market burden, the government said it will reduce the issuance of government bonds to three-point-eight trillion won in December from the initially-planned nine-point-five trillion won.