S&P: South Korea unchanged

Standard & Poor's said it considers recent news of North Korea's shutdown of its nuclear reactor encouraging, but this move alone is not enough to change the landscape of geopolitical risk on the Korean peninsula or alter its current sovereign credit ratings on the Republic of Korea (South Korea, foreign currency ratings A/stable/A-1).

In general, this is a positive step forward for North Korea to fulfill its February agreement with the members of the Six Party Talks on its nuclear disarmament, the agency said.

At least in the near future, the reported action will help reduce geopolitical risks associated with the Korean peninsula, S&P noted.

But the agency said that these developments will not significantly affect its view of the sovereign ratings on South Korea because further steps remain to achieve the nuclear disarmament of North Korea.

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