South Korea’s Moon announces $29.5 billion additional cheap loans for exporters

South Korea’s Moon announces $29.5 billion additional cheap loans for exporters

© Reuters. FILE PHOTO: South Korea’s President Moon Jae-in speaks during a ceremony marking the 101st anniversary of the March 1st Independence Movement Day in Seoul

SEOUL (Reuters) – South Korean President Moon Jae-in said on Wednesday the government will make an additional 36 trillion won ($29.5 billion) worth of cheap loans available for exporters hit by the coronavirus.

Speaking at a policy meeting with economic chiefs, Moon also said fresh measures worth 17.7 trillion won will be rolled out to boost consumption and support domestic demand.

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