In this brief, we present a novel folding technique for high-speed and low-cost Bose-Chaudhuri-Hocquenghem (BCH) decoders. In the conventional BCH decoder, the critical path lies on the Galois-field (GF) multiplier of the key equation solver, where the speedup of the critical path is very difficult due to a significant area increase. In the proposed work, the regularly structured GF multiplier is introduced to be efficiently folded to reduce the complexity and the critical delay. Moreover, the conventional global folding scheme can be applied to further reduce the hardware costs. The implementation results show that the proposed folding scheme enhances the area efficiency by 1.73 and 1.9 times in the Digital Video Broadcasting-Satellite-Second Generation system and the storage controller, respectively.