South Korea's mortgage rates balloon, dampening spending - Nikkei Asia

Quick Summary:

The central bank projects growth of just 1.7% in 2023.

High interest rates have become a significant burden on households.

Real gross domestic product grew 2.6% in 2022, the Bank of Korea estimated Thursday -- a slowing from the 4.1% of 2021.

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Article Details

Author / Journalist: Staff Writer

Category: InvestingFinanceBusiness

Markets: JapanSouth Korea

Topics: Seoul Korea Asian Website Review Cookie Known Rates Nikkei Bank Content

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-27 @ 01:49:00 (1 months ago)

News Timezone: GMT +9:00

News Source URL: news.google.com

Language: English

Article Length: 155 words

Reading Time: 1 minutes read

Sentences: 9 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Nikkei Asia

News ID: 4842656

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News Last Updated: 9 hours ago

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