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S. Korea vows more emergency steps over winter wave of virus infections

All News 14:01 December 14, 2020

SEOUL, Dec. 14 (Yonhap) -- South Korea's top financial regulator said Monday that his agency will take more emergency steps, if necessary, as health authorities struggle to contain a winter wave of coronavirus infections.

Financial Services Commission (FSC) Chairman Eun Sung-soo made the remarks a day after the nation reported its highest one-day increase of 1,030 infections.

In the span of the past 10 days, the nation recorded about 7,500 confirmed infections, bringing the total caseload to 43,484 on Monday.

"As a resurgence of COVID-19 has become a reality, (the government) will come up with additional measures if needed," Eun told an online briefing.

Financial authorities will also actively cope with a rise in household and corporate debts, Eun said.

South Korea has promised to spend some 277 trillion won (US$254 billion) to cushion the economic blow from the coronavirus pandemic, with the Bank of Korea cutting its key rate to a historic low.

Due to the concerns over rising prices related to excessive liquidity, the government is closely monitoring the property market, Eun said.

In January next year, the FSC will review the need to scale back stimulus measures to combat the pandemic, Eun said.

The file photo taken Nov. 27, 2020, shows Financial Services Commission Chairman Eun Sung-soo at a plenary session of the national policy committee at the National Assembly in Seoul. (Yonhap)


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