Suppose the spot and six-month forward rates on the South Korean won are 1,118.33 and 1,120.87, respectively. The annual risk-free rate in the United States is 2.5 percent, and the annual risk-free rate in South Korea is 3.1 percent. What must the six-month forward rate be to prevent arbitrage? (Do not include the South Korean won sign (). Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)