Bank of Korea Governor Kim Choong-soo, right, holds a meeting with chief executives at the BOK’s headquarters in central Seoul yesterday. [NEWSIS]
Korea’s central bank governor cautioned companies, individuals and the government yesterday on the danger of taking on an unreasonable level of debt.
During a meeting with corporate executives yesterday, Bank of Korea Governor Kim Choong-so said, “corporations, the government and individuals should pay close attention to how much debt they take on.”
The BOK’s 25 basis point rate hike last Friday will increase interest payments for debt holders.
Kim also commented on Korea’s mounting household debt.
“We should keep an eye on those who take out loans that have no ability to pay them back.”
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