South Korea's President Lee says interest rate rise is unavoidable

FILE PHOTO: South Korean President Lee Jae Myung speaks during a ceremony to celebrate the 81st anniversary of the Korean Liberation Day in Seoul, South Korea, Saturday, Aug. 15, 2026. Lee Jin-man/Pool via REUTERS/File Photo 01 Sep 2026 09:27AM SEOUL, Sept 1 : South Korean President Lee Jae Myung said on Tuesday the economy is at a point where an interest rate rise is unavoidable, risking denting growth potential at a time socially disadvantaged are feeling the impact of higher borrowing costs.Lee was speaking at a cabinet meeting where the national budget for 2027 is scheduled to be reviewed and adopted. He asked parliament to offer broad suggestions that could improve the government proposal. Source: Reuters