S&P affirms Korea

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

The outlook remains stable.

The transfer and convertibility assessment on Korea remains at AA-.

The sovereign credit ratings on the Republic of Korea balance the economic and fiscal strengths of Korea against the related risks of heavy contingent liabilities and potential geopolitical instability, the agency said.

Korea's dynamic economy, sound fiscal position and a net external creditor position lend support to the government's creditworthiness, S&P said.

Contingent liabilities and geopolitical risks facing Korea remain the chief weaknesses in the government's credit fundamentals, the agency added.

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