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President Moon Jae-in presided over the second emergency economic meeting today (24th) and stressed that the government will serve as a breakwater for companies facing economic crisis. To this end, he announced that he would invest 100 trillion won in emergency funds for corporate relief and operate a stable fund in the bond and equity markets.

Reporter Jeon Byeong-nam.

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President Moon Jae-in, who presided over the second emergency economic meeting, said that the coron19 crisis caused the Korean economy to suffer so much that companies faced a major crisis.

In particular, it announced active measures to counter temporary liquidity shortages.

[President Moon Jae-in: The emergency financing measures of 50 trillion won decided at the first meeting will be expanded significantly to determine the emergency funding of 100 trillion won for corporate relief.]

He also emphasized that he would suffocate the financial crisis by providing additional support to SMEs and mid-sized companies with a value of 29 trillion won.

We decided to organize 20 trillion won in the bond market stabilization fund and operate the 10.77 trillion won securities market stabilization fund.

In addition, it said that it would supply 17,800 billion won separately for corporate bonds by companies that are temporarily in trouble with liquidity.

At today's meeting, measures to support employment, such as expanding employment support funds, were also discussed.

[President Moon Jae-in: If the business is difficult, the employment part may deteriorate rapidly. Prompt action is also required for the suspension or exemption of utility bills such as the four major premiums and electricity bills.]

President Moon instructed the government to ensure that these measures are implemented immediately next month.

Next week's scheduled 3rd emergency economic meeting will focus on how to support people's livelihood, including basic disaster income.