SEOUL – President Meng Jian publicly announced a small business aid package worth 50 trillion won ($ 39 billion) on Thursday in response to the Kuwaiti-19 crisis. This is the opening of the Emergency Economic Council.

The president said the emergency financing plan is aimed at preventing small and medium-sized companies, small business owners and self-employed individuals from bankruptcy and easing their financial worries. There is growing fear of a recession and a global credit crisis.

"It is a special emergency financial measure of 50 trillion won," President Meng Jian said at the start of the presidential office session.