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South Korea unveils $14 bn stimulus package to spur growth

South Korea on Thursday announced a $14 billion stimulus package to boost its troubled economy, hammered by the deadly MERS outbreak which has dented consumer spending and business sentiment. In announcing the 15 trillion won programme — which follows a central bank interest rate cut to a record low this month — the finance ministry also slashed its growth outlook for this year. Finance Minister Choi Kyung-Hwan said the extra move was crucial as a recovery in Asia's fourth largest economy hinged on efforts to quickly contain the effects of Middle East Respiratory Syndrome.

Tests show South Korean in Slovakia probably does not have MERS

Tests show a 38-year-old South Korean man admitted to hospital in Slovakia with suspected Middle East Respiratory Syndrome (MERS) probably does not have the potentially deadly virus, the Slovak Health Ministry said on Sunday. Ministry spokesman Peter Bubla said the patient, who was taken to a Bratislava hospital on Saturday, would undergo further tests. An outbreak of the virus in South Korea has infected 145 people and killed 14 of them since it was first diagnosed in May in a businessman who had returned from a trip to the Middle East.