While following the global fight against the deadly coronavirus (COVID-19), South Korea recently announced a stimulus package of 11.7 trillion won ($9.8 billion) on Wednesday, as per Reuters. Key quotes Finance Minister Hong Nam-ki said the supplementary budget, subject to parliamentary approval, will channel money to the health system, child care, and outdoor markets. The flu-like virus, which originated in China, has killed more than 3,000 and roiled global financial markets as investors and policymakers brace for a sharp knock to world growth. South Korea has the most cases of infections outside the mainland, weakening consumption and prompting Bank of Korea Governor Lee Ju-yeol to issue a warning last week that Asia’s fourth-largest economy could contract in the first quarter. FX implications Following the news, the USD/KRW pair declines to 1,183 while South Korean equity gauge KOSPI register 1.69% gains to 2,48 by the press time. 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 PBOC sets Yuan reference rate at 6.9514 FX Street 3 years While following the global fight against the deadly coronavirus (COVID-19), South Korea recently announced a stimulus package of 11.7 trillion won ($9.8 billion) on Wednesday, as per Reuters. Key quotes Finance Minister Hong Nam-ki said the supplementary budget, subject to parliamentary approval, will channel money to the health system, child care, and outdoor markets. The flu-like virus, which originated in China, has killed more than 3,000 and roiled global financial markets as investors and policymakers brace for a sharp knock to world growth. South Korea has the most cases of infections outside the mainland, weakening consumption and prompting Bank of… 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.
