The Bank of Korea's (BOK) recent decision to raise its policy rate to 3 percent is raising concerns over the financial stability of already vulnerable borrowers, including the self-employed and households, analysts said Sunday. Self-employed debt and delinquency rates have climbed to record highs, while total household credit has surpassed 2,000 trillion won ($1.45 trillion) for the first time. With a large share of these loans carrying variable rates, higher borrowing costs could put further strain on vulnerable borrowers and increase the risk of defaults. The central bank raised its benchmark rate by 0.25 percentage points to 3 percent at Thursday's policy meeting, marking the second consecutive hike following its July increase. The impact is likely to be particularly burdensome for self-employed borrowers, as both outstanding debt and delinquent loans have reached record highs, while delinquency rates have climbed to alarming levels, raising concerns that the rate hike could further increase their interest burden and the risk of defaults. "My loan interest rate is already at 6 percent