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S. Korea to spare no efforts to minimize economic impact of coronavirus

All News 13:39 February 14, 2020

SEOUL, Feb. 14 (Yonhap) -- South Korea will spare no efforts to minimize the economic fallout of the new coronavirus and draw up additional measures to support an economic recovery, Finance Minister Hong Nam-ki said Friday.

Hong made the remarks in a meeting with Bank of Korea Gov. Lee Ju-yeol on Friday to discuss how to cope with the economic impact of the virus, which was recently named COVID-19.

Hong also urged people to carry out "normal economic activities," saying private consumption was hit by the spread of the virus.

It was the first time the two men have met since August last year, when they discussed measures to deal with Japan's export curbs of key materials targeting South Korea.

The market is increasingly betting that the central bank will cut its key rate at its policy meeting on Feb. 27 to preemptively cope with the economic fallout of the virus.

kdh@yna.co.kr
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