South Korean financial institutions will supply a total of 13 trillion won (US$9.5 billion) this month to help companies facing liquidity constraints, the government said on Monday.

According to the Ministry of Strategy and Finance, the envisioned money will be supplied by 18 banks, including the central bank and state-run guarantee agencies.

The move comes as concerns deepen over a possible cash crunch among smaller companies during Lunar New Year holiday period when companies usually give employees special bonuses.

The amount is higher than 6 trillion won (US$4.38 billion) injection during the same period last year reflecting the worsening economic condition.

(Xinhua News Agency January 12, 2009)