The South Korean government on Friday agreed to inject $20 billion into the flagging economy, which has been hit by the MERS virus outbreak and sluggish consumption.
The 22-trillion-won ($19.8 billion) stimulus package was passed at a cabinet meeting of government ministers, the finance ministry said.
"The extra budget will help revitalise the economy and stabilise the livelihoods of ordinary people who have been affected the most by the fallout from MERS," Vice Finance Minister Bang Moon-Kyu was quoted as saying by Yonhap news agency.
As of Friday morning, the virus had killed 33 people and a total of 184 cases had been confirmed. Forty-two of those remain hospitalised with 12 in critical condition, according to the health ministry.
The 22 trillion won package includes an already-announced 15 trillion won supplementary budget and seven trillion won of other expenditures such as expanded investments by state companies and additional credits for exporters.
The extra expenditure is expected to raise the economic growth rate by 0.3 percentage points this year and 0.4 percentage points in 2016.
South Korea forecasts its economy will grow 3.1 percent this year and 3.5 percent next year.
Despite lingering fears over MERS, the country is hosting two international sporting events this week -- the World University Games in southern Gwangju City and the ITTF World Tour Korea Open in the western city of Incheon.
Scores of thermo heat sensing cameras have been installed at airports, athletes' villages, sports venues and hotels, with some 600 medics monitoring participants.
Nevertheless, some athletes have pulled out with a third of Hong Kong's 100-strong team opting to stay at home after the southern Chinese city issued a South Korea travel warning to its citizens.
AFP
Fri Jul 03 2015
Despite lingering fears over MERS, the country is hosting two international sporting events this week.
Freedom Flotilla to Gaza: Misi sekali lagi ditangguhkan, dijangka berlepas pada Jumaat
Ketika ini lokasi kapal memulakan pelayaran akan ditukarkan ke satu lokasi yang akan diumumkan dalam masa terdekat.
Pihak produksi masih terima Naim Daniel jika ubah fikiran
Ketua saluran Astro Ria, Norzeha Mohd Salleh memberitahu bahawa pihak produksi masih lagi memberi ruang kepada penyanyi tersebut untuk mempertimbangkan semula tawaran yang diberikan.
The Hardest Singing Show cabar kreativiti penyanyi tempatan
Program The Hardest Singing Show mencari satu juara yang mampu menyahut cabaran kreativiti luar limitasi.
Pekerja Ahli Parlimen EU disyaki jadi pengintip China
Polis Jerman telah menahan seorang pekerja ahli politik Parlimen Eropah Alternative for Germany (AfD) kerana disyaki menjadi pengintip China.
Amaran ribut hujan tahap tertinggi dikeluarkan di Guangdong, selatan China
Lebih 100,000 orang sudah dipindahkan akibat hujan lebat dan banjir yang boleh membawa maut di selatan China.
Jokowi dan anaknya bukan lagi ahli PDIP
Presiden Indonesia Joko Widodo atau Jokowi dan anaknya, bakal naib presiden Gibran Rakabuming Raka, bukan lagi ahli parti terbesar negara itu selepas mereka menyokong calon pesaing yang juga pemenang pilihan raya Prabowo Subianto.
Lima migran maut ketika cuba memasuki Perancis
Lima termasuk seorang kanak-kanak, maut dalam cubaan menyeberangi Selat Inggeris dari Perancis pada Selasa.
Polis New York lakukan penahanan himpunan lewat malam
Polis New York bertindak melakukan penahanan membabitkan peserta yang terlibat dalam himpunan solidariti terhadap Palestin di Universiti New York (NYU) pada lewat malam Isnin. Penahanan itu dibuat selepas mereka didakwa mengingkari arahan amaran pihak universiti untuk bersurai dan mengosongkan plaza yang menjadi tempat mereka berkumpul.
Break The Siege: Ada kemungkinan lokasi pelepasan kapal ditukar
Jawatankuasa Pemandu Freedom Flotilla Coalition (FFC), Kamarul Zaman Shaharul Anwar memaklumkan, wujud kemungkinan lokasi pelabuhan bagi pelepasan kapal yang terlibat dalam misi Break the Siege of Gaza Freedom Flotilla ditukar.
Benarkan syarikat milik bukan Islam cetak Al-Quran, pengarah syarikat didenda
Seorang pengarah syarikat percetakan dijatuhi hukuman denda RM8,000 atau penjara lima bulan oleh Mahkamah Majistret Petaling Jaya pada Selasa selepas mengaku salah tidak mematuhi syarat-syarat lesen untuk mencetak atau menerbitkan Teks al-Quran, bulan lepas.