Credit and leverage
Korea Corporate Bond AA- 3Y
Korean AA- 3-year corporate bond yield.
At a glance
Korea Corporate Bond AA- 3Y: latest value and prior change
As of 2026-07-23, Korea Corporate Bond AA- 3Y is 4.61 %. It is 0.00 pp higher than 4.60 % on 2026-07-22.
Within the default comparison window of 1,000 observations from 2022-06-27 to 2026-07-23, the latest value is at the tie-adjusted 87th percentile. Available history covers 1995-01-03 to 2026-07-23 with 8,012 observations.
- Observed on
- Default comparison window
- 2022-06-27–2026-07-23
- Observations · observed cadence
- 1,000 · Daily
- Data source
- Bank of Korea ECOS
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
Time-series chart
Korea Corporate Bond AA- 3Y
1995-01-03–2026-07-23
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Interpretation guide
Reading blue-chip funding costs with the AA- 3-year corporate yield
The Korea Corporate Bond AA- 3Y rate is the mark-to-market benchmark yield for unsecured AA- rated three-year corporate bonds, published every business day by the Korea Financial Investment Association. AA- is the most heavily issued high-grade segment of Korea's corporate bond market, making this yield the standard cost of market funding for large Korean corporates.
The high-grade benchmark
The AA- 3-year is the de facto reference point of Korea's credit market; most spread and credit-index discussion is anchored to this tenor and rating. Its level is the sum of the government yield and a credit premium, so decomposing every move into those two drivers should be habitual.
- This yield minus the Korea Treasury 3Y yield is the standard measure of the high-grade credit spread.
- Moves matching government bonds are rate-driven; a widening gap means credit factors are in charge.
- A higher absolute level directly raises interest costs and refinancing burdens for listed large caps.
Link to equity valuation
As both a discount rate on corporate earnings and a proxy for funding conditions, a sustained rise in the AA- yield pressures equity valuations from two directions. Conversely, falling yields with stable spreads over governments form a risk-asset-friendly combination.
- A yield spike accompanied by spread widening reads as credit tightening; review KOSPI flows defensively.
- Yield declines alongside a stable Korea CP 91D Rate show short- and long-term funding easing together.
- Checking primary-market book-building results adds credibility to what the quoted yield implies.
Interpretation cautions
This is an aggregated valuation yield from bond pricing agencies rather than traded prices, so it can lag market feel when trading dries up. Rising yields also do not automatically equal deteriorating credit.
- In rising-rate phases, always split the move into the government-yield component and the spread component.
- Around year-end book closing and similar flow events, weight direction over level.
- Even with stable AA- yields, a surging Korea Corporate Bond BBB- 3Y means lower-grade stress is building.