South Korea’s Legoland is an unlikely poster child for the global struggle to fight inflation while maintaining financial stability.But a default on 205 billion won (US$155mil or RM682mil) worth of debt by the theme park’s developer triggered the worst meltdown in South Korea’s credit market since the global financial crisis. And as interest-rate hikes batter real estate markets around the world, it’s a reminder that even relatively safer financial systems like South Korea’s face threats of contagion.

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