Finance Minister Hong Nam-ki said on Thursday that the government will produce a plan to purchase corporate assets worth over two trillion won in efforts to help companies secure funds and ride out the COVID-19 pandemic.

The minister unveiled the plan during a meeting of economy-related ministers, saying the state-run Korea Asset Management Corporation will create a fund worth over two trillion won for the asset purchase program.

The minister said the government could buy the assets directly and sell them to a third party or lease them.

Minister Hong said the government will also expand the beneficiaries of reduced fees for the use of national property to include small and medium-sized firms.  

The reduced fees have been only applied to small businesses that hire less than ten workers.