South Korea’s President Lee says interest rate rise is unavoidable

SEOUL, Sept 1 : South Korean President Lee Jae Myung said on Tuesday the economy is at a point where an interest rate rise is unavoidable, risking denting growth potential at a time socially disadvantaged are feeling the impact of higher borrowing costs.

Lee was speaking at a cabinet meeting where the national budget for 2027 is scheduled to be reviewed and adopted. He asked parliament to offer broad suggestions that could improve the government proposal.