Government announces 'special measures' to overcome Corona 19 crisis soon

[Infostock Daily= reporter Song Jeong-hoon] The government said it will announce special measures soon to minimize the impact of the new corona virus infection (Corona 19) and to overcome it early.

Kim Yong-beom, the first vice minister of the Ministry of Economy and Finance, made the remarks at the Expanded Macroeconomic and Financial Conference held at the Myeongdong Bank Hall in Seoul on the 24th.

“We plan to strengthen the prevention of further spread and focus on economic stability, such as supporting damaged companies and vulnerable groups, while maintaining measures to protect economic recovery momentum, including investment, exports and domestic demand,” said Kim Yong-beom, vice minister of the ministry.

Kim Yong-bum also said that if necessary, he will take action on the part of the expansion of financial market fluctuations due to the spread of Corona 19.

“We are watching the foreign exchange market very closely,” Kim Yong-beom said. “If the exchange rate is excessively expanded, we will take necessary measures.”

The government predicted that the spread of Corona 19 would have a negative impact on the entire economy in the future. “The difficulties are increasing in the service, retail and wholesale industries,” said Kim Yong-beom, the vice minister. “It is hard to exclude negative effects from the employment perspective,” he said.

The government plans to implement 104.1 billion won in government budget, preliminary budget for local governments, and disaster management fund for prevention, diagnosis and treatment.

Reporter Song Jeong-hoon boxr@infostock.co.kr