S&P affirms three Korean government issuers

Standard & Poor's said it affirmed its A/A-1 long and short-term foreign currency and A-1 short-term local currency ratings on Korea Development Bank and Export-Import Bank of Korea.

At the same time, S&P said it affirmed its A/A-1 foreign currency and A+/A-1 local currency ratings on Small Business Corp.

The outlooks on the long-term ratings remain stable.

The agency said that the affirmations follow the affirmation of the sovereign ratings on Korea (FC: A/stable/A-1, LC: A+/stable/A-1).

"The affirmation of the sovereign ratings on Korea incorporates a balance of factors between Korea's economic, fiscal and external strengths with high contingent risks and delays in implementing structural reforms such as in the labor market and SME sector," said S&P credit analyst Takahira Ogawa.

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