The Bank of Korea's benchmark interest rate

The Bank of Korea's benchmark interest rate cannot be raised now and will be difficult for the time being. If the base rate is raised, the export companies that feed Korea will die, and the burden of household debt will become so large that a bad economy will die

That's why, of course, we have to endure our own pain now, as the exchange rate has soared and prices have jumped, but it's a postpaid bill for living so well so far

As I said before, the decline in the value of the won is ultimately a decline in the international purchasing power of the people, but it now has excessive purchasing power compared to the productivity of the people and companies. The days when people liked overseas travel because it was cheap are over.

One reason for this is that productivity has fallen due to the revelatory policies such as taxing and reducing working hours, and the second is that the opportunity to remove the real estate bubble has been missed

At the end of 2022, housing prices turned downward during the U.S. interest rate hike, but to save this somehow, he did not raise interest rates and just released the mortgage to support the price of the house, instilling people's perception that apartments are undefeated and making them run to buy apartments whenever they release money.

All of the released liquidity went into apartments, and consumption did not survive, so real estate eventually ate up the economy. Interest rates will inevitably fall further, but if liquidity does not prevent it from entering real estate, it will eventually become a country where only houses are embraced and starved to death