S&P rates Korea Resources

Standard & Poor's said it assigned its A local and foreign currency long-term issuer credit ratings to Korea Resources Corp.

The outlook on the long-term rating is stable, the agency said.

S&P noted that the ratings on Korea Resources reflect the strong support the company receives from the Korean government as an executing arm for the procurement and stable supply of mineral resources critical to Korea's industrial development.

A high 87% import dependency ratio in 2005 highlights the strategic importance of a stable supply of mineral resources for the national economy, the agency said.

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