South Korea will provide 5.3 trillion won (US$4.9 billion) in additional financial support aimed at stimulating corporate investment on facilities, the country's top economic policymaker said Tuesday.

Finance Minister Hyun Oh-seok said that the support will be provided through state-run policy financing agencies.

"We will strengthen our supporting efforts for corporate investment in a way that the recent improving trend in our economic conditions could spill over even into the private sector," Hyun told a meeting with other policymakers in Seoul.

"To make it easier for businesses to secure money for investment, we will make an additional 5.3 trillion won available for this year as facility investment funds," he added.

This is in addition to the 32.8 trillion set aside by state policy financing agencies to help corporate investment on facilities.

For small- and mid-sized businesses as well, Hyun said that the government will ease regulations related to tariffs and asset deprecation rates to lessen their burdens from making new investments.

Meanwhile, he said that the government will unveil a set of measures to stimulate the overall corporate investment in the middle of September. It would mark the third of its kind under the Park Geun-hye government, which took office in February.

The measures are expected to center on improving or easing regulations related to the environment and the overall operation of industrial complexes, according to government sources. (Yonhap News)