South Korea: Interest rates on bank credit to the private sector
For that indicator, The World Bank provides data for South Korea from 1996 to 2018. The average value for South Korea during that period was 6.67 percent with a minimum of 3.37 percent in 2016 and a maximum of 15.28 percent in 1998.
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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.