Finance minister warns against excessive fear of new coronavirus
SEOUL, Feb. 12 (Yonhap) -- South Korea's finance minister on Wednesday warned against excessive fear of the spread of a new coronavirus, urging people not to curb their normal economic activities.
Finance Minister Hong Nam-ki told a meeting with economy-related ministers that the economy is expected to feel the brunt of efforts to contain the virus, but most economic impact may came from "excessive fear and anxiety."
As planned, the government will push ahead with investments worth 100 trillion won (US$84.6 billion) this year to keep the economy's recovery momentum, Hong said.
Hong said the government will come up with additional measures in coming weeks to help local firms cushion the economic impact of the virus.
Such measures include policy tools to boost local tourism, exports and private consumption.
South Korea had 28 confirmed cases of the virus, which originated from China and killed more than 1,100 people, as of Monday.
Last week, the finance ministry said it will provide 2 trillion won in financial support to small merchants who are expected to be hurt by the spread of the virus.
It is difficult to gauge how broadly the virus will spread, but the little-known disease is expected to negatively affect the Korean economy, analysts said.
kdh@yna.co.kr
(END)
-
(News Focus) Display, electronics makers dealt blow by COVID-19 lockdowns in China
-
BTS to meet Biden at White House to discuss anti-Asian hate crimes
-
(URGENT) Russian, Chinese warplanes enter S. Korea's air defense zone without notice: JCS
-
Multiple Russian, Chinese warplanes enter KADIZ without notice: JCS
-
Premier League Golden Boot winner Son Heung-min receives hero's welcome home
-
(5th LD) Yoon, Biden agree to expand joint military exercises to cope with N.K. threats
-
(LEAD) Multiple Russian, Chinese warplanes enter KADIZ without notice: JCS
-
(News Focus) Display, electronics makers dealt blow by COVID-19 lockdowns in China
-
With historic Golden Boot, Son Heung-min cements case as greatest S. Korean footballer ever
-
(URGENT) Russian, Chinese warplanes enter S. Korea's air defense zone without notice: JCS
-
S. Korean volunteer fighter in Ukraine returns home with injuries
-
S. Korean midfielder Hwang Hee-chan to enter military training after 2 friendlies in June
-
BTS to meet Biden at White House to discuss anti-Asian hate crimes
-
S. Korea's new COVID-19 cases below 20,000 for 2nd day as omicron wave ebbs
-
(LEAD) S. Korean volunteer fighter in Ukraine returns home with knee injuries