The global credit rating agency Standard & Poor’s (S&P)* will visit Korea from March 10th (Monday) to March 14th (Friday) to conduct its annual consultation for the sovereign credit rating assessment.
* S&P Annual Consultation Team: KimEng Tan, Senior Director, Asia-Pacific Sovereign Ratings at S&P
Andrew Wood, Director, Asia-Pacific Sovereign Ratings at S&P.
※ Korea’s Sovereign Credit Rating (Outlook): [S&P] AA (Stable) [Moody’s] Aa2 (Stable) [Fitch] AA- (Stable)
This year, the S&P annual consultation team will visit not only government ministries including the Ministry of Economy and Finance, the Ministry of Science and ICT, the Ministry of Trade, Industry, and Energy, the Ministry of Health and Welfare, the Ministry of Employment and Labor, the Ministry of Land, Infrastructure and Transport, the Ministry of SMEs and Startups, and the Financial Services Commission, as well as the Bank of Korea, but also research institutions including the Korea Development Institute (KDI) and the Korea Institute for International Economic Policy (KIEP), along with private enterprises, to receive briefings on Korea’s economic situation and policy direction.
In particular, the S&P team plans to focus its annual consultation on key areas of interest, including semiconductor and artificial intelligence (AI) development strategies, real estate policies, measures to address polarization, the sustainability of public finances and the national pension system, responses to low birth rates, youth unemployment, the impact of U.S. tariffs, and household debt.
The government will systematically respond to this year’s S&P annual consultation through the Government-wide Task Force on Sovereign Credit Ratings, which was launched on January 23rd, and arrange a meeting between Acting President and Deputy Prime Minister Choi Sang-mok and the consultation team.
Please refer to the attached files.
