Bank of Korea Governor Shin Hyun-song held a press conference today, July 16, to explain the decision by the Monetary Policy Board to raise the base interest rate by 0.25 percentage points. Governor Shin stated that the board considered growth, inflation, and financial stability, noting that the decision to raise rates was unanimous among all members of the Monetary Policy Board.

More details are available in the video.

Reported by Kim Taewon | Video by Kim Na-on | Graphics by Lee Soo-min | Produced by SBS Digital News