韩国央行警告 韩元疲软和房价飙升加剧金融体系失衡风险

Core Viewpoint - The Bank of Korea indicates that while the financial system remains resilient amid economic recovery, rising housing prices and a weak won exacerbate financial vulnerabilities [1][2][3] Financial System Resilience - The Bank of Korea's semi-annual financial system report highlights that domestic financial institutions possess robust capital buffers and foreign exchange payment capabilities [1][2] - Recent asset price volatility, including stock market declines and a persistently weak won, has led to high volatility in financial and foreign exchange markets [1][2] Housing Market Concerns - Despite government measures, housing prices in the Seoul metropolitan area continue to rise sharply, raising concerns about worsening financial imbalances [1][2] - The report notes that credit risks in vulnerable sectors remain elevated [1][2] Policy Implications - Concerns over rising housing prices influenced the Bank of Korea's recent policy decision, preventing further easing of monetary policy [1][2] - Officials worry that lowering borrowing costs could encourage speculative activities [1][2] Financial Environment and Risk - The report warns that a loose financial environment encourages risk-taking behavior among market participants, increasing the likelihood of severe adjustments in the event of shocks [1][2] Debt Management - The Bank of Korea reiterates the need to "gradually reduce" household debt leverage to ensure long-term macroeconomic stability [3] - Structural supply and demand constraints in the credit market may hinder this process, prompting the central bank to collaborate with the government on structural reforms to alleviate these constraints [3]