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Moon to address financial market instability in 2nd emergency council session

Politics 17:01 March 23, 2020

SEOUL, March 23 (Yonhap) -- President Moon Jae-in plans to focus on how to stabilize South Korea's financial market, which has been jolted by fears of a coronavirus-led global recession, when he holds a second session of the "emergency economic council" this week, his office said Monday.

Moon is scheduled to chair the meeting on Tuesday following last week's inaugural one, in which he announced a 50-trillion-won (US$39 billion) financial aid package for small-and medium-sized enterprises, tiny shop owners and self-employed people vulnerable to a looming liquidity crisis.

In the upcoming meeting, Moon will discuss ways to minimize instability of the security, bond and short-term capital markets and will make public a related policy decision, according to Cheong Wa Dae.

Financial Services Commission (FSC) Chairman Eun Sung-soo is to hold a separate press briefing on details, it added.

President Moon Jae-in (back, C) holds an emergency economic council meeting at Cheong Wa Dae in Seoul on March 19, 2020, in this file photo. (Yonhap)


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