The government will provide loans with low interest to small businesses that have been hit by the spread of the novel coronavirus, starting from Thursday. 

Finance Minister Hong Nam-ki announced on Wednesday that the government will provide two-and-a-half billion won in loans to small-and medium-sized enterprises(SME) and two billion won in loans to small business owners to help stabilize operations. 

Presiding over a meeting of economy-related ministers, Hong also said that the government plans to supply 105 billion won to SMEs and 100 billion won to small business owners in new loans with preferential terms.

Hong added that the government will continue to provide such businesses with quarantine items, including face masks. He said it will also come up with additional measures to help stabilize operations through surveys. 

The minister said the outbreak appears to be contracting economic activities, mostly stemming from excessive fear and anxiety. He called on the public to engage in normal economic activities and spending given that coronavirus cases are being managed under the government’s quarantine system.