March 24, 2020 / 3:21 AM / in 11 days

South Korea doubles rescue package to $80 billion amid coronavirus woes

FILE PHOTO - South Korea's President Moon Jae-in speaks during a ceremony in Seoul, South Korea, March 1, 2020. Kim Min-Hee/Pool via REUTERS/File Picture

SEOUL (Reuters) - South Korea President Moon Jae-in said on Tuesday the government will double a planned rescue package to contain mounting economic and financial fallout from the coronavirus to 100 trillion won ($80 billion).

The government will expand policy financing loans for small- to medium-sized companies, help them keep jobs, and inject liquidity into financial markets by buying corporate bonds.

Reporting by Cynthia Kim; Editing by Himani Sarkar

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