South Korea: Interest rates on bank credit to the private sector: For that indicator, The World Bank provides data for South Korea from 1997 to 2016. The average value for South Korea during that period was 6.76 percent with a minumum of 3.37 percent in 2016 and a maximum of 15.28 percent in 1998. See the global rankings for that indicator or use the country comparator to compare trends over time.
The lending interest rate in South Korea shown below is the interest rate on credits from banks to prime borrowers, i.e. to the lowest risk borrowers in the private sector. That includes firms and households.
Definition: Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.