To be honest, I don't think it's a crash, but looking at interest rates, it seems like housing prices might be brought under control

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Of course, one or two interest rate hikes won't naturally stabilize things, but if rates break through that upper limit like that, there will definitely be an impact. If the US upper limit is 4.5%, Korea will inevitably move toward 3.5–3.75% if things follow this pattern. It would be a relief if oil prices stabilize before then, but who knows what Trump might do.
Of course, that doesn't mean there will be a strong downward trend or a crash in 2023, but I believe there will be sufficient market corrections.
From 2028 onwards, memory and NAND prices will eventually stabilize regardless. That is when the expansion effects from places like Changxin and Yangtze will start to show.
Even if the government does nothing to reform the tax system, the structure is such that taxes will naturally increase as officially assessed land prices are brought in line with reality. Adding high interest rates to that will make it quite painful. Setting all that aside, marginal self-employed businesses will be the first to fail. But since these people are already undergoing restructuring even now, rather than being a matter of the future... the social atmosphere is no longer favorable toward them either. (Even if the government wants to save them, people are repulsed by the idea).
No matter how you look at it, even though people in our country try not to live with excessive loans, if interest rates rise like that, it really is a bully. If the base rate is in that state, COFIX will rise even faster; mortgage rates are already starting to show around 7%. While the majority will be at 5–6%, these will also rise if interest rates go up.
Loans taken out five years ago are also nearing maturity. One or two rate hikes won't stabilize housing prices, but if unexpected variables (like war) occur or if the general trend shifts toward high interest rates, it will have an impact, even if it's not a full-scale crash or decline.