South Korea’s finance ministry announced Monday stepped-up efforts to stabilize markets as global financial turbulence rattles investor confidence. The ministry stated that the Bank of Korea (BOK) is ready to inject fresh liquidity, including rapid deployment of a $2.07 billion (3 trillion won) stock fund. Officials also plan to ease foreign exchange rules by raising position limits for banks and boosting currency swap lines with the National Pension Service. Last week, the won hit a 16-year low of 1,450 won to the dollar.

Concurrently, the government is targeting small business relief with tailored financial support to address cash flow strains.