Analysis
From boom to gloom: Rising interest rates deliver blow to South Korean startups
Efforts to counter inflation have led to slump in startup investment, but solutions could drive up financial risks
As nations across the globe grapple with soaring inflation, South Korea finds itself in an anomalous economic situation.
While inflation hit a 14-month low of 3.7%, far below the dizzying 9.1% seen in the U.S. last June or the U.K.’s 10.1%, Seoul has still had to respond to a worldwide monetary tightening cycle by raising interest rates. And this decision has delivered a blow to South Korea’s vibrant startup scene.
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