rate hike Archives | Be Korea-savvy
Workers’ Employment Insurance Rate to be Hiked over Fund Depletion Woes

Workers’ Employment Insurance Rate to be Hiked over Fund Depletion Woes

SEOUL, Sept. 1 (Korea Bizwire) — The government on Wednesday decided to raise the rate of workers’ employment insurance next year as the state employment insurance fund is on the verge of being depleted amid the prolonged coronavirus pandemic. The labor ministry’s employment insurance fund committee held a meeting and ratified the decision to raise [...]

Mortgage Burden Likely to Get Heavier as BOK Lifts Key Rate

Mortgage Burden Likely to Get Heavier as BOK Lifts Key Rate

SEOUL, Nov. 30 (Korea Bizwire) — Households may have to cope with higher mortgage rates as the Bank of Korea (BOK) raised its key interest rate for the first time in a year, market watchers said Friday. In a widely anticipated move to cool property prices, the BOK lifted its key rate by 25 basis [...]