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Finance

Bank of Korea raises policy rate to 3.00 percent by 25 basis points on inflation, housing price risks

The Bank of Korea raised its policy interest rate by 25 basis points to 3.00 percent from 2.75 percent, citing stronger-than-expected growth supported by solid exports and a recovery in domestic demand. It said inflation pressures continue and financial imbalance risks have risen, including Seoul-area home prices and household debt. The central bank lifted its growth forecasts and kept open the possibility of further rate hikes.

Finance

Shinhan Bank extends rate-cut support for high-interest household loans to 9.8 percent

Shinhan Bank will extend for one year its interest-rate cut support to ease financing costs for customers with high-interest household loans. The bank said the program, launched last year as part of its Help-up & Value-up project, will run from Aug. 26. Eligible customers are those with household loans carrying rates above 9.8 percent as of July 2026 and at least three months remaining to maturity. Rates will be lowered to 9.8 percent without application.

Finance

South Korean banks\' won loan delinquency rate falls to 0.56 percent in June

South Korean banks\' won-denominated loan delinquency rate fell to 0.56 percent at end-June from 0.67 percent a month earlier, the Financial Supervisory Service said. It was still 0.04 percentage points higher than a year earlier. Newly delinquent loans totalled 2.6 trillion won in June, while bad-loan disposals jumped to 5.3 trillion won. The regulator warned delinquency rates could rise again amid economic uncertainty.