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The KORIBOR (Korea Inter-Bank Offered Rate) for the Korean won is the average of lending interest rates in the interbank market.

The KORIBOR is published for 6 maturities (1 weeks, and 1, 2, 3, 6, and 12 months) through the information providers at 11:00 a.m. each business day. After 3:30 p.m., you can also see the updated KORIBOR on the website of the KFB (Korea Federation of Banks). It has been published by the KFB since July 26, 2004.

Out of the 11 different rates quoted by the reference banks, the three highest and three lowest rates are disregarded, and the average (rounded off to two decimal places) of the remaining rates becomes the official rate for each maturity.

Calculation & Publication Rules

(1) The reference banks quote rates for each maturity to the service provider, Yonhap Infomax, between 10:40 and 10:55 a.m. each business day.

(2) The service provider calculates the average rate based on the provided rates, disregarding the three highest and three lowest rates (rounded off to two decimal places), and quotes all provided rates of each bank and the KORIOR to the Bank of Korea between 10:55 a.m. and 11:00 a.m. The BOK reviews the results and authorizes the service provider to announce them as the KORIBOR at 11:00 a.m.

(3) Upon receiving authorization, the service provider transmits the official KORIBOR to the information providers, and the information providers then immediately publish them.

(4) When a reference bank fails to quote rates, the service provider can still calculate the KORIBOR based on the other banks' quoted rates. However, there must be quotes from a minimum of 10 reference banks.

Reference Bank
(As of Jan. 1, 2017)
Reference Bank
Nationwide Commercial Banks Shinhan Bank, Woori Bank, Standard Chartered Bank Korea Limited, KEB Hana Bank, Kookmin Bank.
Specialized Banks The Korea Development Bank, Nonghyup Bank, Industrial Bank of Korea
Regional Banks Daegu Bank, Busan Bank, Jeonbuk Bank
Terms & Conditions for Viewing & Use of the KORIBOR

The official announcement of the KORIBOR is made at 11 a.m. each business day only by the information providers (Yonhap Infomax, Thomson Reuters, FactSet, and Bloomberg).
The KORIBOR listed on this website is for information purposes only.
The KFB shall not be liable for any negative results (including any loss or damage) from use of the KORIBOR listed on this website, or for lack of availability or errors in the KORIBOR or delays in listing the KORIBOR for whatever reason.
The KORIBOR listed on this website shall not be used for any commercial purposes without prior consent of the KFB.
The KORIBOR is a registered trademark of the KFB. All rights reserved.

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