South Korea - Money Market Rate

For South Korea, interest rate indicators to track the "price of money," i.e., the price paid when money is borrowed or lent. Sovereign yields (i.e., Treasury bonds), special-purpose government bonds, corporate bonds, commercial paper (CP), uncollateralized call rates. Published by the Bank of Korea (BOK).

Daily series in general:

• Measurement: Percent per annum (% p.a.)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Business daily
• Start date: As early as 13 Nov 1998

Sovereign yields:

• Tenor spectrum: 1, 2, 3, 5, 10, 20, 30, 50 years
• Start dates: Between 13 Nov 1998 and 10 Mar 2021

Monthly series in general:

• Measurement: Percent per annum (% p.a.)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start date: As early as 1976m6

Sovereign yields:

• Tenor spectrum: 1, 2, 3, 5, 10, 20, 30, 50 years
• Start date: As early as 1995m5

Interest rates are disseminated daily and monthly.

These rates are available:

1. Interest rates on aggregate credit ceiling loans (rediscount policy variable rate)
2. Overnight interbank call rates (weighted average rates by trading volume)
3. Commercial Banks & Saving Banks' weighted averages of interest rates on time & saving deposits (newly extended, with a maturity of one year and more but less than two years)
4. Commercial Banks & Saving Banks' weighted averages of interest rates on loans & discounts (newly extended)
5. Yields on Treasury bonds (period average rates, a maturity of three years)

The data for the 10-year rate refers to the par yield rates. “Long term (in most cases 10 year) government bonds are the instrument whose yield is used as the representative ‘interest rate’ for this area. Generally the yield is calculated at the pre-tax level and before deductions for brokerage costs and commissions and is derived from the relationship between the present market value of the bond and that at maturity, taking into account also interest payments paid through to maturity.” (https://stats.oecd.org/index.aspx?queryid=86).

Interest rates are simple annual percentages.

Further reading

At the source:

• All press releases
• Interest rates (Jun 2023) (Jul 2023)

At IMF (SDDS):

• Interest rates (Jan 2024 / Feb 2024)

• Sep 2005 - Initial version.
• Jan 2018 - Terminated collateralized call rates.
• 15 Aug 2023, Phillip Thorne - Added tenors of sovereign yields: Properties, Further reading.
• 24 May 2024, Phillip Thorne - Added daily variant of sovereign yields: Further reading.