The government will inject an additional 21 trillion won, or around 17-point-three billion U.S. dollars, into the struggling South Korean economy in the first quarter of this year.

Presided by the deputy prime minister for economy, an economy-related ministerial meeting was held on Wednesday at the Seoul government complex

At the meeting, the ministers decided to inject a total of 21 trillion won in fiscal spending and policy financing.

In a bid to boost consumption, the government will also resume excise tax breaks on automobile purchases until June. It will also retroactively apply the cut to purchases already made this year even though the temporary tax reduction expired last year.
 
Government officials added that its plans also include increasing the number of tax refund shops to attract more Chinese customers during the coming Chinese Spring Festival holiday.
 
The fresh efforts to revive the South Korean economy come amid slow growth in consumer spending and exports.