President Park Geun-hye today urged local politicians to ratify a stimulus package worth KRW20trn (US$17bn), including KRW10trn in extra budget, as the nation fights to save its beleaguered shipbuilding and shipping industries which have been shedding thousands of jobs over the past 18 months with more to go.

"To support the suffering citizens, the government has decided to draw up a supplementary budget," the president said.

She also warned that Brexit could bring additional stress to the Korean economy in the second half of this year.