South Korea's finance ministry announced on Thursday that it will release 15 trillion Won (roughly $13.5 billion) to counteract the adverse effect on the economy brought by the MERS virus in the country, Wall Street Journal reported.

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The Middle Eastern Respiratory Syndrome or MERS has claimed the lives of 29 South Koreans and another 180 more are afflicted with the disease as of June 25, according to CNBC.

The virus has discouraged many foreign tourists from entering the country. The South Korean government estimates around 120,000 foreigners have foregone their trips to the country after the first case of MERS was reported on May 20.

Local sources say many South Koreans have opted to stay at home rather than go out and risk contracting the disease. As a result, businesses in South Korea such as restaurants, malls, movie houses, parks, and other places for social gatherings have suffered low sales due to poor attendance, according to Yahoo News.

Economic statistics shows that sales in many shops have fallen year-on-year by at least 17 percent and 9 percent in the first and second week of June, respectively. Amusement parks have also seen a decrease of 60 percent of visitors in June's first week and 45 percent on its second week. 

People visiting amusement parks have also reduced by around 60 percent in June's first week and 45 percent on the second week. Lee Ju-yeol, governor of the Korean central bank, believes that consumer spending will return to normal, but gradually.

The government announced that the stimulus package is intended to help local exporters and businesses who financially suffered from MERS, and to create jobs. This is the second time since 2013 that South Korea will set up a supplementary budget.

The country's chief of the economic policy bureau, Lee Chan-woo, said that the economy is expected to grow by 3.1 percent this year if the stimulus package is included. Without it, South Korea's economy would probably expand by less than 3 percent for 2015. Before the MERS outbreak, the government was projecting an economic expansion of 3.8 percent for the current year.

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