{"id":2202411,"date":"2023-10-03T17:31:58","date_gmt":"2023-10-03T08:31:58","guid":{"rendered":"https:\/\/koreapro.org\/?p=2202411"},"modified":"2023-10-04T19:11:13","modified_gmt":"2023-10-04T10:11:13","slug":"south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/","title":{"rendered":"South Korea faces economic inflection point as debt and monetary challenges loom"},"content":{"rendered":"

South Korea faces significant economic headwinds as household and corporate debt levels surge.\u00a0<\/span><\/p>\n

The Bank of Korea (BOK) is now at a crossroads, considering its monetary policy adjustments in response to domestic inflationary pressures and the U.S. Federal Reserve\u2019s decisions.\u00a0<\/span><\/p>\n

The potential delay in the BOK\u2019s rate cuts amid rising debt and external monetary influences could have profound implications for South Korea\u2019s economic future.<\/span><\/p>\n

ESCALATING DEBT<\/b><\/p>\n

South Korea\u2019s economic indicators reveal a concerning trend: a rapid increase in debt across its household and corporate sectors. Over the past five years, the <\/span>household debt-to-gross domestic product<\/span><\/a> (GDP) ratio has risen sharply. This surge isn\u2019t limited to households. Corporate debt has also swelled.<\/span><\/p>\n

The data is telling. According to the International Monetary Fund (IMF), South Korea\u2019s household debt as a percentage of its GDP stood at <\/span>105.09% in 2022<\/span><\/a>, representing a significant jump of 13.09 percentage points from the <\/span>92% recorded in 2017<\/span><\/a>.<\/span><\/p>\n

A combination of factors potentially drives this surge. A significant contributor is the rise in <\/span>housing-backed loans<\/span><\/a>. South Korea\u2019s housing purchase system, coupled with a low-interest-rate environment, has substantially increased these loans. This trend, in turn, has played a pivotal role in the overall rise in household debt.<\/span><\/p>\n

On the corporate front, the situation is equally concerning. The ratio of <\/span>non-financial corporate debt to GDP<\/span><\/a> has risen from 93% in 2017 to 120% in 2022, marking an increase of some 27 percentage points. This growth rate is second only to Luxembourg\u2019s, underscoring the urgency of the situation.<\/span><\/p>\n

The trajectory of corporate debt has not always been this steep. After the 2008 financial crisis, the IMF\u2019s records show that South Korea\u2019s corporate debt ratio initially increased to 100.46% in 2009. However, since 2017, there has been a noticeable upward trend.<\/span><\/p>\n

\"\"

U.S. Fed Chairman Jerome Powell answers reporters’ questions at the Federal Open Market Committee press conference, Sept. 20, 2023 | Image: Federalreserve via Flickr<\/a> (PDM 1.0 DEED<\/a>)<\/em><\/p><\/div>\n

ANTICIPATED MONETARY POLICY<\/b><\/p>\n

Amid the backdrop of rising debt, the BOK finds itself in a precarious position. Its monetary policy decisions, always critical, now carry even more weight given the current economic landscape. Domestic and international stakeholders closely watch the BOK\u2019s moves, particularly concerning its key interest rate<\/span><\/p>\n

Initially, the BOK had plans to lower its key interest rate <\/span>early next year<\/span><\/a>. However, recent developments have shifted this timeline. The central bank <\/span>maintained its key interest<\/span><\/a> rate at 3.5% in August, marking the fifth consecutive time it has done so. This decision followed seven consecutive rate hikes from April 2022 to Jan. 2023.<\/span><\/p>\n

One significant factor influencing the BOK\u2019s hesitancy to cut rates is <\/span>subdued yet persistent inflationary pressures<\/span><\/a> within South Korea. While a rate cut might provide short-term relief to borrowers, it could further fuel inflation, creating long-term economic challenges.<\/span><\/p>\n

The Fed’s monetary policy is another external factor shaping the BOK\u2019s decisions. Last month, the Fed <\/span>maintained its benchmark lending rate<\/span><\/a> between 5.25% and 5.50%. It also hinted at another potential rate hike later this year, aiming to bring inflation down to its 2% target. Such a move would have cascading effects on global markets.<\/span><\/p>\n

For South Korea, a rate hike in the U.S. typically leads to a strengthening of the dollar. This can result in capital outflows from emerging markets, including South Korea, as investors seek better returns in dollar-denominated assets. Such outflows can exert downward pressure on the South Korean won, making imports more expensive and exacerbating inflationary pressures.<\/span><\/p>\n

Moreover, a stronger U.S. dollar and higher U.S. interest rates can make servicing dollar-denominated debt more expensive for countries and corporations. For South Korea, with its rising corporate and household debt levels, this could further strain businesses and consumers.<\/span><\/p>\n

The U.S. monetary policy\u2019s tightening stance also contrasts with the anticipated direction of the BOK. As the central bank considers cutting its key interest rate in response to domestic challenges, the divergent paths of the two central banks could lead to increased volatility in currency and financial markets.<\/span><\/p>\n

INFLATION CONCERNS<\/b><\/p>\n

Rising inflation has become a central concern for South Korea, especially as it intertwines with mounting debt and external monetary pressures.<\/span><\/p>\n

South Korea\u2019s Consumer Price Index (CPI), a key measure of inflation, is <\/span>on track to reach the 4% mark<\/span><\/a> by the end of this year. This is a significant uptick, especially considering that the CPI\u2019s growth rate might remain above 3% for the first half of next year. Such sustained inflationary pressures can have a variety of effects on the economy, from reducing consumer spending to impacting business investments.<\/span><\/p>\n

Several factors are driving this inflationary trend. First, the <\/span>global rise in commodity prices<\/span><\/a>, especially energy and raw materials, has increased production costs for many South Korean industries. As these costs are often passed on to consumers, they contribute to rising prices across various sectors.<\/span><\/p>\n

Second, <\/span>supply chain disruptions<\/span><\/a>, still vulnerable to the ongoing war in Ukraine and China\u2019s economic slowdown, have led to shortages of certain goods, further driving up prices. These disruptions, while improving, still pose challenges for many industries, from electronics to automobiles.<\/span><\/p>\n

Lastly, domestic factors, such as <\/span>increased borrowing<\/span><\/a>, have fueled demand.<\/span><\/p>\n

The inflationary environment poses challenges for the BOK. Traditionally, central banks combat inflation by raising interest rates, which can cool down an overheated economy. However, given South Korea\u2019s high debt levels and the anticipated rate cuts, the BOK finds itself in a complex situation. Raising rates could help curb inflation but exacerbate the debt situation and slow economic growth.<\/span><\/p>\n

Further, with the Fed\u2019s potential rate hikes on the horizon, the BOK must also consider the implications of divergent monetary policies and their impact on capital flows and the currency market.<\/span><\/p>\n

GOING FORWARD<\/b><\/p>\n

South Korea stands at an economic crossroads, grappling with both internal and external challenges. The nation\u2019s economic landscape is undergoing a significant transformation on account of soaring household and corporate debt levels and possible shifts in the BOK\u2019s monetary policy.\u00a0<\/span><\/p>\n

Add to this the external pressures from the Fed\u2019s decisions and the looming shadow of persistent inflation and it becomes clear that South Korea\u2019s policymakers face a delicate balancing act.<\/span><\/p>\n

The decisions made by ROK policymakers in the coming months will not only shape the nation\u2019s immediate future but also offer lessons for other economies facing similar challenges.<\/span><\/p>\n

Edited by Alannah Hill<\/span><\/i><\/p>\n

Business & Economy<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"

South Korea faces significant economic headwinds as household and corporate debt levels surge.\u00a0 The Bank of Korea (BOK) is now at a crossroads, considering its monetary policy adjustments in response to domestic inflationary pressures and the U.S. Federal Reserve\u2019s decisions.\u00a0 The potential delay in the BOK\u2019s rate cuts amid rising debt and external monetary influences […]<\/p>\n","protected":false},"author":10407,"featured_media":2200691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[24],"class_list":["post-2202411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-business-economy"],"yoast_head":"\nSouth Korea faces economic inflection point as debt and monetary challenges loom - Korea Pro<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea faces economic inflection point as debt and monetary challenges loom - Korea Pro\" \/>\n<meta property=\"og:description\" content=\"South Korea faces significant economic headwinds as household and corporate debt levels surge.\u00a0 The Bank of Korea (BOK) is now at a crossroads, considering its monetary policy adjustments in response to domestic inflationary pressures and the U.S. Federal Reserve\u2019s decisions.\u00a0 The potential delay in the BOK\u2019s rate cuts amid rising debt and external monetary influences […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/\" \/>\n<meta property=\"og:site_name\" content=\"Korea Pro\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-03T08:31:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-04T10:11:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1875\" \/>\n\t<meta property=\"og:image:height\" content=\"1003\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"John Lee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/628fb985625ed7bb2c475bed33f6445f\"},\"headline\":\"South Korea faces economic inflection point as debt and monetary challenges loom\",\"datePublished\":\"2023-10-03T08:31:58+00:00\",\"dateModified\":\"2023-10-04T10:11:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/\"},\"wordCount\":1062,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg\",\"keywords\":[\"Business & Economy\"],\"articleSection\":[\"Analysis\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/\",\"url\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/\",\"name\":\"South Korea faces economic inflection point as debt and monetary challenges loom - Korea Pro\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg\",\"datePublished\":\"2023-10-03T08:31:58+00:00\",\"dateModified\":\"2023-10-04T10:11:13+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#primaryimage\",\"url\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg\",\"contentUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg\",\"width\":1875,\"height\":1003},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/koreapro.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"South Korea faces economic inflection point as debt and monetary challenges loom\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/koreapro.org\/#website\",\"url\":\"https:\/\/koreapro.org\/\",\"name\":\"Korea Pro\",\"description\":\"Be smart about South Korea. Up-to-date analysis on foreign relations, politics, society and economy. Made by the producers of NK PRO and NK News.\",\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/koreapro.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/koreapro.org\/#organization\",\"name\":\"Korea Pro\",\"url\":\"https:\/\/koreapro.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2022\/11\/logo.png\",\"contentUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2022\/11\/logo.png\",\"width\":360,\"height\":50,\"caption\":\"Korea Pro\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/nknewsorg\/\",\"https:\/\/x.com\/southkoreapro\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"South Korea faces economic inflection point as debt and monetary challenges loom - Korea Pro","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/","og_locale":"en_US","og_type":"article","og_title":"South Korea faces economic inflection point as debt and monetary challenges loom - Korea Pro","og_description":"South Korea faces significant economic headwinds as household and corporate debt levels surge.\u00a0 The Bank of Korea (BOK) is now at a crossroads, considering its monetary policy adjustments in response to domestic inflationary pressures and the U.S. Federal Reserve\u2019s decisions.\u00a0 The potential delay in the BOK\u2019s rate cuts amid rising debt and external monetary influences […]","og_url":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/","og_site_name":"Korea Pro","article_publisher":"https:\/\/www.facebook.com\/nknewsorg\/","article_published_time":"2023-10-03T08:31:58+00:00","article_modified_time":"2023-10-04T10:11:13+00:00","og_image":[{"width":1875,"height":1003,"url":"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg","type":"image\/jpeg"}],"author":"johnleenknews","twitter_card":"summary_large_image","twitter_creator":"@southkoreapro","twitter_site":"@southkoreapro","twitter_misc":{"Written by":"John Lee","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#article","isPartOf":{"@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/"},"author":{"name":"johnleenknews","@id":"https:\/\/koreapro.org\/#\/schema\/person\/628fb985625ed7bb2c475bed33f6445f"},"headline":"South Korea faces economic inflection point as debt and monetary challenges loom","datePublished":"2023-10-03T08:31:58+00:00","dateModified":"2023-10-04T10:11:13+00:00","mainEntityOfPage":{"@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/"},"wordCount":1062,"publisher":{"@id":"https:\/\/koreapro.org\/#organization"},"image":{"@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#primaryimage"},"thumbnailUrl":"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg","keywords":["Business & Economy"],"articleSection":["Analysis"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/","url":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/","name":"South Korea faces economic inflection point as debt and monetary challenges loom - Korea Pro","isPartOf":{"@id":"https:\/\/koreapro.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#primaryimage"},"image":{"@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#primaryimage"},"thumbnailUrl":"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg","datePublished":"2023-10-03T08:31:58+00:00","dateModified":"2023-10-04T10:11:13+00:00","breadcrumb":{"@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#primaryimage","url":"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg","contentUrl":"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/04\/bok-935x500-1.jpeg","width":1875,"height":1003},{"@type":"BreadcrumbList","@id":"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/koreapro.org\/"},{"@type":"ListItem","position":2,"name":"South Korea faces economic inflection point as debt and monetary challenges loom"}]},{"@type":"WebSite","@id":"https:\/\/koreapro.org\/#website","url":"https:\/\/koreapro.org\/","name":"Korea Pro","description":"Be smart about South Korea. Up-to-date analysis on foreign relations, politics, society and economy. Made by the producers of NK PRO and NK News.","publisher":{"@id":"https:\/\/koreapro.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/koreapro.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/koreapro.org\/#organization","name":"Korea Pro","url":"https:\/\/koreapro.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/koreapro.org\/#\/schema\/logo\/image\/","url":"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2022\/11\/logo.png","contentUrl":"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2022\/11\/logo.png","width":360,"height":50,"caption":"Korea Pro"},"image":{"@id":"https:\/\/koreapro.org\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/nknewsorg\/","https:\/\/x.com\/southkoreapro"]}]}},"_links":{"self":[{"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/posts\/2202411"}],"collection":[{"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/users\/10407"}],"replies":[{"embeddable":true,"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/comments?post=2202411"}],"version-history":[{"count":1,"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/posts\/2202411\/revisions"}],"predecessor-version":[{"id":2202414,"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/posts\/2202411\/revisions\/2202414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/media\/2200691"}],"wp:attachment":[{"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/media?parent=2202411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/categories?post=2202411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/koreapro.org\/wp-json\/wp\/v2\/tags?post=2202411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}