SEOUL - The Korea Interbank Offered Rates (KORIBOR) were posted by Yonhap Infomax, the financial news and information arm of Yonhap News Agency, at 11:00 a.m. The rates are key indicators of the cost of borrowing between banks in South Korea.
According to Yonhap News Agency, The rates for various terms were as follows: for the 1-week term, the rate remained stable at 3.50 percent, matching the previous session. The 1-month term rate slightly decreased to 3.67 percent from the previous session's 3.68 percent. For the 2-month term, the rate was down to 3.80 percent from 3.81 percent.
The 3-month term rate also saw a decline, coming in at 3.95 percent, down from the previous 3.96 percent. A more notable decrease was observed in the 6-month term rate, which dropped from 4.00 percent to 3.98 percent. The 12-month term rate decreased to 3.93 percent from the previous session's 3.96 percent.
These rates are closely watched by financial markets and analysts as they reflect the short-term borrowing costs in the South Korean banking sector.