Seoul unveils stimulus measures to support faltering growth

Sejong, South Korea

SOUTH Korea unveiled a set of stimulus measures on Wednesday to keep Asia's fourth-largest economy on a recovery track in the face of falling oil prices and tumbling demand from China and other major economies.

The measures include boosting public spending by 6 trillion won (S$7.1 billion) and lending by policy banks by 15.5 trillion won, both during the first quarter, and compared with previous plans.

The Finance Ministry said in a statement that individual consumption taxes on passenger cars would …