Seoul: The Korea Interbank Offered Rates (KORIBOR) saw a slight decrease across most terms as reported by Yonhap Infomax, the financial news and information division of Yonhap News Agency, at 11:00 a.m. today. The rates, which serve as a benchmark for lending between banks in South Korea, showed minor changes in comparison to the previous session.

According to Yonhap News Agency, the 1-week KORIBOR rate decreased from 3.00% in the previous session to 2.91% today. The 1-month rate also saw a slight reduction, dropping from 2.98% to 2.96%. Similarly, the 2-month and 3-month KORIBOR rates fell to 2.95% and 2.94%, respectively, compared to their previous rates of 2.97% and 2.96%.

Additionally, the 6-month rate decreased to 2.92% from the previous session's 2.94%. The 12-month rate saw a minimal decline from 2.85% to 2.84%. These rates are critical indicators for financial institutions to set their own lending and borrowing rates within the interbank market.