Finance Minister Hong Nam-ki has vowed all-out efforts to normalize operations of auto parts manufacturers in China to help South Korean automakers suffering from a parts shortage amid the coronavirus outbreak. 

The minister unveiled the plan on Friday during a meeting with the heads of economy-related ministries at the government complex in Seoul.

Minister Hong said that in light of the share of the automobile sector held by the country’s manufacturing industry, it's imperative to ensure local automakers quickly normalize production to minimize the economic fallout.

To that end, the minister said the government will strengthen consultation with Chinese local governments, asking them to resume operations of their auto parts plants.

He said the government will also provide active support to make sure parts produced in China will quickly be supplied to South Korean automakers. 

In addition, Minister Hong said the government will provide about two trillion won in financial support to small businesses that are expected to take a hit because of the virus outbreak.