Speaking at an emergency economic policy meeting on Thursday, South Korea President Moon Jae-in on said the government is drafting the fourth supplementary budget of this year of 7.8 trillion won ($6.58 billion), per Reuters. The new outlays will be used for cash payments to small businesses as well as to households for paying mobile phone bills, Moon said. Last week, the South Korean Finance Ministry ramped up spending plans for the next few years to cushion the economic blow from the coronavirus pandemic. Market reaction The South Korean won (KRW) fails to benefit from the stimulus news, as USD/KRW holds the higher ground above 1,185, modestly flat on the day. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Stalled global economic recovery fuels fresh buildup of oil inventory FX Street 3 years Speaking at an emergency economic policy meeting on Thursday, South Korea President Moon Jae-in on said the government is drafting the fourth supplementary budget of this year of 7.8 trillion won ($6.58 billion), per Reuters. The new outlays will be used for cash payments to small businesses as well as to households for paying mobile phone bills, Moon said. Last week, the South Korean Finance Ministry ramped up spending plans for the next few years to cushion the economic blow from the coronavirus pandemic. Market reaction The South Korean won (KRW) fails to benefit from the stimulus news, as USD/KRW… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
