Seoul, Sept. 26 (IANS): A South Korean national who was kidnapped in Peru has been safely rescued in less than 24 hours, the foreign ministry said Thursday.

The businessman, abducted by members of a criminal ring in the Peruvian capital of Lima on Tuesday (local time), was rescued by local police authorities the following day, the ministry said.

The victim, who is in his 60s, is believed to have sustained minor injuries during the kidnapping but is in relatively good condition, according to a ministry official who spoke on the condition of anonymity.

"At present, it does not appear that the individual was specifically targeted for being Korean. There was a kidnapping incident in 2011, but such cases involving Koreans are considered very rare," the official added, Yonhap news agency reported.

According to Peru's interior ministry and police, three kidnappers were arrested while attempting to move to another location after demanding a large ransom.

A gunfight broke out in downtown Lima during the rescue operation, with a grenade being thrown at a police car, which injured one officer in the process.

Authorities believe the kidnappers, who are Venezuelan nationals, are part of a criminal ring.

The victim has been conducting business in Peru for a significant period of time.

Although Peru was once considered relatively safe, the country has seen a sharp rise in crime rates since the COVID-19 pandemic, driven by economic downturns and an influx of migrants.

About 1,200 South Koreans live in Peru, with 1,000 of them residing in Lima, the official said.