South Korea Bank of Korea Base Rate
South Korea Bank of Korea Base Rate is 2.75 percent, in force since 16 Jul 2026. It was 2.5 percent before that. Last checked against the official source on 13 Sep 2026.
The Base Rate (기준금리) set by the Bank of Korea's Monetary Policy Board, the reference rate for BOK transactions with financial institutions and the economy-wide policy anchor.
Compare policy interest rate across all 28 Asian countries →
| Current value | 2.75 percent |
|---|---|
| In force from | 2026-07-16 |
| Official source | Bank of Korea Monetary Policy Board, Monetary Policy Decision of 16 July 2026 (Base Rate raised 25bp from 2.50% to 2.75%), under the Bank of Korea Act (한국은행법) |
| Last verified | 2026-09-13 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
Unanimous 25bp hike on 2026-07-16 — the first increase since January 2023, ending the 2024-25 easing cycle (2.50% had held since 2025-05-29). Board cited export/investment-led growth (2026 GDP projected 2.6%), inflation above the 2% target for an extended period (June 2026 CPI +3.2% y/y), household credit growth and won weakness, and signalled that policy 'needs to maintain a rate-hiking stance'. Decisions take effect from the decision date; the MPB holds 8 rate-setting meetings per year. Full change history cross-verified on the BOK Korean portal table (https://www.bok.or.kr/portal/singl/baseRate/list.do?dataSeCd=01&menuNo=200643 — loaded 2026-07-20); the English 'progress' page renders the table via script and returns no data to plain fetchers.
Earlier values
| From | Value | Source |
|---|---|---|
| 2025-05-29 | 2.5 | — |
| 2025-02-25 | 2.75 | — |
| 2024-11-28 | 3 | — |
| 2024-10-11 | 3.25 | — |
| 2023-01-13 | 3.5 | — |
| 2022-11-24 | 3.25 | Bank for International Settlements - Central Bank Policy… |
| 2022-10-12 | 3 | Bank for International Settlements - Central Bank Policy… |
| 2022-08-25 | 2.5 | Bank for International Settlements - Central Bank Policy… |
| 2022-07-13 | 2.25 | Bank for International Settlements - Central Bank Policy… |
| 2022-05-26 | 1.75 | Bank for International Settlements - Central Bank Policy… |
| 2022-04-14 | 1.5 | Bank for International Settlements - Central Bank Policy… |
| 2022-01-14 | 1.25 | Bank for International Settlements - Central Bank Policy… |
Get it programmatically
curl https://asiaref.dev/v1/kr/policy-rate
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://asiaref.dev/v1/kr/policy-rate/history?from=2020-01-01
# Provenance: curl https://asiaref.dev/provenance/kr/policy-rateOther South Korea series: Statutory interest (법정이율) · Value-Added Tax (부가가치세) standard rate · VAT registration threshold · National minimum wage (최저임금) · Public holidays · Consumer price inflation (소비자물가 상승률) · Corporate income tax (법인세) top rate · Withholding tax rates · Personal income tax (종합소득세) schedule · Statutory social-insurance contributions
The same figure elsewhere: Sri Lanka · Taiwan · Thailand · Türkiye · United Arab Emirates · all 28