What other measures has South Korea taken to combat economic fallout?

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South Korea Has Implemented Multiple Measures to Address Economic Pressures

South Korea is implementing a series of measures to support its economy amidst the global economic impact of the coronavirus pandemic, beyond injecting dollars into the banking system. These actions aim to alleviate pressure on the nation's financial system and ensure normal operations.
Emergency Interest Rate Cut

South Korean policymakers have announced an emergency interest rate cut. This move is part of a broader strategy to mitigate the economic fallout from the ongoing global health crisis.
Additional Budget Allocation

An extra budget of 11.7 trillion won has been unveiled by South Korean authorities. This fiscal injection is intended to further bolster the economy and support businesses facing financial strain.
Raising Foreign Currency Forward Position Caps

To increase the supply of US dollars in the market, regulatory caps on foreign currency forward positions for banks are being adjusted. The limit for local banks will be raised to 50 per cent of their equity capital from 40 per cent, while for foreign banks, it will be relaxed to 250 per cent from 200 per cent. These adjustments are expected to inject between US$5 billion and US$10 billion into the market.

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What other measures has South Korea taken to combat economic fallout?

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