South Korea’s Hyun Sees Rising Interest Rates as Global Risk

Rising interest rates pose a risk to the global economy, said South Korean Finance Minister Hyun Oh Seok, whose country is grappling with record household debt.

The speed and degree at which major economies taper monetary stimulus and the “interest rate increases that will follow should always be monitored,” Hyun, 63, said in an interview in Washington D.C., where finance and central bank officials from Group of 20 nations are meeting. Foreign-exchange rates are set by economic fundamentals and capital flows, he said, declining to comment on the won’s level.