Go Seung-beom "Actively Support Base Rate Hike, Once Is Insufficient"

National Assembly Political Affairs Committee Confirmation Hearing

Ko Seung-beom, the nominee for the Financial Services Commission chairman, is attending the confirmation hearing held at the National Assembly on the 27th, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Jin-ho Kim] Go Seung-beom, the nominee for the Chairman of the Financial Services Commission, stated on the 27th that he "actively supports" the Bank of Korea's decision to raise the base interest rate, on the premise of personal opinion.

Go, attending the National Assembly's Political Affairs Committee confirmation hearing that day, responded this way to the question from Kim Byung-wook, a member of the Democratic Party of Korea, asking "Do you agree with the interest rate hike?" The Bank of Korea raised the base rate by 0.25 percentage points from 0.5% to 0.75% the previous day.

Go also answered "I don't think one increase will be sufficient" to the question, "Do you think further interest rate hikes will be necessary in the future?"

He added, "Considering the accumulation of financial imbalances and the resulting increase in household debt, I think they might consider (raising interest rates) a bit more," and "I believe the Bank of Korea will make such a judgment well."

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