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Reduced geopolitical risks, improved economic conditions good for South Korea's rating upgrade

기사승인 2018.11.02  09:25:51

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South Korea's chief economic policymaker expressed hopes on Nov. 1, 2018 that reduced geopolitical risks and South Korea's improved economic conditions would help raise the country's ratings.

In a meeting with a delegation from global rating agency Fitch Ratings earlier in the day, Finance Minister Kim Dong-yeon said the Seoul government will also beef up the country's fiscal soundness backed by increased tax revenue.

Finance Minister Kim Dong-yeon (left) shakes hands with Stephen Schwartz, senior director at Fitch Ratings Inc., before a meeting with officials from the global rating agency, in Seoul, on Nov. 1, 2018.

The minister also stressed that a series of measures is in store to create jobs and the innovation-led growth policy will be implemented as announced.

Led by Stephen Schwartz, senior director at Fitch Ratings Inc., the delegation will be in South Korea for meetings with officials from the Ministry of Economy and Finance, the Bank of Korea and other government agencies.

They will look into the macroeconomic policies of the Moon Jae-in government, as well as financial issues, like household debt, according to the finance ministry.

The country's fiscal health and financial stability will also be on the checklist, along with trade issues and geopolitical developments surrounding North Korea, the finance ministry said.

In June this year, Fitch reaffirmed its fourth-highest, 'AA-,' rating for South Korea with a stable outlook, citing lingering geopolitical risks and concerns of a trade war between the United States and China. (Yonahp)

Shin Jin-seon edt@koeapost.com

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