Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol on May 21 speaks at the Ministerial Meeting on International Economic Affairs at Government Complex-Seoul in Seoul's Jongno-gu District. (Yonhap News)

By Yoo Yeon Gyeong

The country's top economic policymaker has announced USD 6 billion in financial assistance for Middle Eastern countries facing a liquidity crisis due to the prolonged war in the region.

Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol said this on May 21 at the Ministerial Meeting on International Economic Affairs at Government Complex-Seoul, adding, "We will discuss cooperation measures with key Middle Eastern countries suffering due to the prolonged war."

"Just like the saying 'A friend in need is a friend indeed,' we will send financial support to Mideast countries with close ties to Korea's economic development that are experiencing temporary liquidity difficulties because of the war."

The assistance will come in the form of advance financing of USD 3 billion each from the Export-Import Bank of Korea and the Korea Trade Insurance Corp. including emergency operating funds.

dusrud21@korea.kr