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Business Management Professor Sung Sup Choi’s Influential Contributions to Maeil Business Debt Strikes Back...The Economy Is Running Out of Options As South Korea’s total debt has, for the first time, exceeded 6,500 trillion won, the government has formalized a 25 trillion won supplementary budget framed as a “wartime” measure. While intended to address immediate livelihood challenges, debt has long since become a heavy burden. At its core, debt is a transaction across time—bringing future consumption and investment into the present. However, as this pattern repeats, the economy may gain time for growth, but it also loses the flexibility to respond effectively to crises. The problems of the Korean economy are most clearly reflected in household debt. The ratio of household debt to GDP has already surpassed dangerous levels, with significant structural vulnerabilities. The high share of variable-rate loans has turned the base interest rate into a politically sensitive factor rather than a purely economic tool, as rate hikes directly increase household repayment burdens and suppress consumption. As a result, delayed policy responses have contributed to rising exchange rate volatility and inflation—effectively “interest on delay.” Click here to read the full article
206.04.23 Hits 42
Business Management Professor Sung Sup Choi’s Influential Contributions to Maeil Business Galaxy Smartphones as Global Wallets Could Redefine Korea’s Role in the Digital Currency Eragrag The U.S. is once again grappling with its chronic “twin deficits.” With foreign governments reluctant to keep buying U.S. Treasuries, America is turning to stablecoins to create new demand for dollars in the private sector. By promoting digital dollars as everyday assets and payment tools, the U.S. is laying the groundwork for a new kind of digital hegemony, by undermining other nations’ financial autonomy and weakening traditional monetary policies. For Korea, this looming transformation is both a risk and an opportunity. If stablecoins spread unchecked, domestic currency stability could be threatened. But with strong IT infrastructure and global reach, Korea could be in the position to lead. If Galaxy smartphones evolve into “global wallets,” Korean companies could become central nodes in the digital currency ecosystem as active providers of the devices, software, and platforms shaping the new international financial order. Click here to read the full article
2025.10.02 Hits 6097