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BOK rate hike to weigh on self-employed
BOK rate hike to weigh on self-employed
EconomyMay 27, 2022
Self-employed workers will likely bear the brunt of the Bank of Korea’s rate hike on Thursday, the fifth raise since August last year from a record low of 0.5 percent amid persistently high inflation, a report by a credit ratings bureau said Friday. The self-employed in 2020 spent 46 percent of their annual income amid falling earnings to settle debt while households used 34 percent on average to do the same, according to Korea Investors Service.  Korea would see the number jump to