South Korea’s President Moon Jae-in has called for “all possible measures” to support the coronavirus-hit economy, expressing concerns about supply chain disruptions and slowing exports to China amid the spread of the deadly virus.
The South Korean economy is feeling the pinch as its biggest exporters such as Samsung Electronics and Hyundai Motor have seen delayed parts shipments from China due to the new coronavirus outbreak. China takes in about a quarter of South Korea’s exports.
Mr Moon stressed that Asia’s fourth-largest economy is in an emergency situation and needs more stimulus measures to spur faltering corporate investment and domestic consumption.
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