Ijuyeol and Goseungbeom to Hold First Meeting Tomorrow to Discuss 'Household Debt'

Chairman Lee and Former Chairman Ko to Meet at Bank of Korea on 3rd at 10 AM
Focus on Measures to Manage Surging Household Debt

[Asia Economy Reporter Jang Sehee] Lee Ju-yeol, Governor of the Bank of Korea, and Ko Seung-beom, Chairman of the Financial Services Commission, will hold their first meeting. Discussions are expected to continue on measures to manage household debt, which both leaders have identified as a top priority.

According to the Bank of Korea on the 2nd, Governor Lee and Chairman Ko are scheduled to meet at 10 a.m. on the 3rd in the Bank of Korea's main conference room.

The Bank of Korea's Monetary Policy Committee raised the base interest rate by 25 basis points last month, from 0.5% to 0.75%, and indicated the possibility of further rate hikes. The increase in the base rate was driven by financial imbalances caused by rising housing prices and a sharp increase in household debt.

Additionally, Chairman Ko has emphasized the risks of household debt. In his inauguration speech on the 31st of last month, he stated, "We will mobilize all means and concentrate policy capabilities to eliminate the risk factors inherent in the rapidly increasing household debt."

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