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S. Korea and S&P hold annual ratings consultation
Updated: 2021-11-30 17:03:46 KST
South Korea's finance minister Hong Nam-ki sat down Tuesday with officials from S&P Global Ratings to discuss the country's credit rating and economic outlook.
According to the Finance Ministry, the S&P officials said that in the pandemic Korea has fared better than others with the same rating, double A, in terms of its economic recovery and financial stability.
The officials also said S&P is keeping its eyes on Korea's financial capacity to respond to longer term issues such as household debt and the country's aging population.
Hong explained the measures being taken on those fronts, including efforts to keep the growth of household debt next year to under five percent.
S&P's rating for South Korea has remained unchanged at the third-highest level, "double A," since 2016.
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