Central Banks
South Korea’s Economy Hasn’t Deleveraged Enough, BOK Member Says
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South Korea could have reduced its reliance on debt more during the latest period of elevated interest rates, a Bank of Korea member said, warning that the failure to do so could limit the scope for future growth.
The unnamed official expressed concerns that an increase in household debt is accelerating recently as the property market heats up, in comments contained in the minutes from the July 11 meeting released Tuesday.