Seoul: The Korea Interbank Offered Rates (KORIBOR) showed stability in most of its terms, according to the latest data published by Yonhap Infomax, the financial news and information division of Yonhap News Agency. The rates as of 11:00 a.m. indicated no change in some short-term and medium-term rates, while slight increases were observed in longer-term rates.

According to Yonhap News Agency, the KORIBOR for the 1-week and 1-month terms remained unchanged at 2.50% and 2.68%, respectively. The 2-month rate also held steady at 2.85%. However, a marginal increase was observed in the 3-month, 6-month, and 12-month rates. The 3-month rate rose to 3.02% from the previous 3.01%, the 6-month rate increased to 3.24% from 3.23%, and the 12-month rate slightly edged up to 3.67% from 3.65%.

The KORIBOR rates are crucial for financial institutions in determining the interest rates for loans and deposits, providing insight into market expectations for interest rate changes. As these rates remain relatively stable, it suggests a consistent outlook among financial institutions regarding the economic conditions in South Korea.