Household, self-employed debt raises alarm as BOK lifts key rate to 3%
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The Bank of Korea's (BOK) recent decision to raise its policy rate to 3 percent is raising concerns over the financial stability of already vulnerable borrowers, including the self-employed and households, analysts said Sunday. Self-employed debt and delinquency rates have climbed to record highs, while total household credit has surpassed 2,000 trillion won ($1.45 trillion) for the first time. With a large share of these loans carrying variable rates, higher borrowing costs could put further st
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