Minutes of the Bank of Korea’s June meeting hint at a rate hike in July and highlight concerns about the side effects of high borrowing costs

Minutes from the Bank of Korea's June meeting suggest a rate hike in July and highlight the side effects of high borrowing costs as well as concerns about vulnerable industries. Committee members warned that rising borrowing costs would worsen difficulties for vulnerable sectors and stated that fiscal support might be necessary. At the same time, they urged banks to tighten loan reviews and called for corporate restructuring.