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(KPL/Yonhap) Republic of Korea will begin its annual consultation meetings with global credit rating agency S&P Global Ratings (S&P) next week to discuss the country's credit evaluation and other key issues, the finance ministry said Thursday.
(KPL/Yonhap) Republic of Korea will begin its annual consultation meetings with global credit rating agency S&P Global Ratings (S&P) next week to discuss the country's credit evaluation and other key issues, the finance ministry said Thursday.
S&P officials will visit various government institutions, including the Bank of Korea, for a five-day assessment starting Monday before deciding on the country's sovereign rating, the ministry said. The meeting comes in the wake of political unrest following President Yoon Suk Yeol's brief imposition of martial law on Dec. 3 and his subsequent impeachment.
S&P maintained Republic of Korea's long-term sovereign credit rating at "AA," the third-highest level in its ranking system. The country has held this position since August 2016, when the rating was upgraded from "AA-."
Since the political turmoil, the Republic of Korean government, under acting President Choi Sang-mok's leadership, has made efforts to maintain the nation's credit stability by holding a series of virtual meetings with global appraisers.
Last month, another global credit rating agency, Fitch Ratings, kept Republic of Korea's sovereign rating at "AA-" with a stable outlook.
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