Seoul: The Korea Interbank Offered Rates (KORIBOR) have shown minimal fluctuations across varying terms as per the latest data. The rates, which serve as a benchmark for lending between banks in South Korea, were released by Yonhap Infomax, the financial news and information arm of Yonhap News Agency, at 11:00 a.m.

According to Yonhap News Agency, the 1-week and 1-month KORIBOR rates held steady at 2.50% and 2.51%, respectively, with no change from the previous session. The 2-month rate saw a slight decrease from 2.52% to 2.51%, indicating a minor shift in the short-term lending landscape.

The 3-month and 6-month rates remained unchanged at 2.53% and 2.57%, respectively, maintaining stability in the mid-term lending market. The 12-month rate experienced a slight dip from 2.58% to 2.57%, reflecting a minor adjustment in the longer-term lending horizon.

These rates are pivotal for financial institutions as they influence the cost of borrowing and lending, impacting various financial products and services in the market. The KORIBOR rates are closely monitored by banks and financial analysts for insights into the monetary environment and potential economic trends in South Korea.