S&P affirms Korea

Standard & Poor's said it affirmed its A/A-1 foreign-currency and A+/A-1 local-currency sovereign credit ratings on the Republic of Korea.

The outlook remains stable.

The agency said that the transfer and convertibility assessment on Korea remains AA-.

According to S&P, the sovereign credit ratings on Korea are supported by the nation's dynamic economy, sound fiscal position, and a sizeable holding of foreign exchange reserves.

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