<正>On 18 March 2020, President Moon Jae-in of South Korea said the COVID-19 outbreak is s imultaneously impacting supply and demand and causing a multi-crisis for the real economy and finance. In trying to overcome the downturn by utilizing both fiscal and monetary policies, the government of South Korea has so far introduced a total of KRW141 trillion(USD115 billion, 7.4% of GDP) support measures to mitigate the impact of the COVID-19 including liquidity provisions and credit guarantees.