S. Korea unveils stimulus measures to spur growth

Trying time: Workers at a port in Pyeongtaek. South Korea’s exports in January tumbled 18.5 from a year earlier, while consumer and business sentiment indicators as well as house prices all softened.

SEJONG: South Korea has unveiled a set of stimulus measures to keep Asia’s fourth-largest economy on a recovery track in the face of falling oil prices and tumbling demand from China and other major economies.

The measures include boosting public spending by 6 trillion won (US$4.94bil) and lending by policy banks by 15.5 trillion won, both during the first quarter and compared with previous plans.