S&P, South Korea Credit Rating ‘AA’ Maintained…‘Stable’ Evaluation Continues for Over 8 Years

International credit rating agency Standard & Poor's (S&P) maintained South Korea's sovereign credit rating at 'AA', the same as before. The rating outlook also continued with the evaluation of 'Stable'.

S&P has been maintaining the same rating since upgrading South Korea's long-term sovereign credit rating from 'AA-' by one notch in August 2016, for over 8 years now. With this decision, South Korea's external credibility is expected to remain unchanged for the time being.

Previously, another international credit rating agency, Fitch, also maintained South Korea's credit rating at 'AA-' with a 'Stable' outlook last February. At that time, Fitch judged that although there was political uncertainty such as President Yoon Seok-yeol's martial law remarks controversy, the actual impact on the economy in the short term was limited.

This judgment by S&P is interpreted as being in line with such a perspective. It is seen as a signal that South Korea's structural economic stability, foreign exchange reserves, and sound external soundness are still highly regarded in the international community.