South Korea's President Lee Jae-myung Says Rate Increases Are Unavoidable

South Korea's President Lee Jae-myung said on Tuesday that interest-rate increases are unavoidable and that fiscal policy should play a coordinating role. According to Sina Finance, he said this would help minimize the pain caused by higher rates for vulnerable groups and prevent damage to economic growth potential. At a cabinet meeting, Lee said the 2027 budget proposal should serve as a springboard for the country to become a global leader in key industries while also improving people's lives in practical terms. He said the main goals of the 2027 budget are to create future growth engines, expand opportunities for upward mobility, significantly ease polarization, and strengthen support for livelihoods.