Seoul: The Korea Interbank Offered Rates (KORIBOR), a crucial benchmark for lending rates in South Korea, showed an increase in longer-term loan rates, while short-term rates remained stable. The data was released by Yonhap Infomax, the financial news and information division 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 2.62%, respectively, from the previous session. Meanwhile, the 2-month rate experienced a slight increase to 2.75% from 2.74%. The 3-month rate also saw a minor rise, moving to 2.88% from 2.87%.

Notably, the 6-month and 12-month rates increased, with the 6-month rate climbing to 3.06% from 3.04%, and the 12-month rate rising to 3.56% from 3.51%. These increments suggest adjustments in market expectations for future interest rate movements.