The government is fully prepared to help exporters and importers with contingency measures, including a supply of foreign-exchange liquidity and financial support, Kim said.
In a bid to supply more dollars into local markets, the government eased foreign-exchange liquidity rules last month.Earlier in the day, customs data showed South Korea’s exports sank 26.9 percent on-year in the first 20 days of April to $21.7 billion. The data came amid growing concerns that the coronavirus pandemic is denting the exports of Asia‘s fourth-largest economy.
The new coronavirus has disrupted trade and halted production around the globe, with a rising number of countries fully closing their borders.
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