S. Korea keeps S&P credit rating at AA for over 3 years
- 5 years ago
Standard & Poor's has maintained South Korea's sovereign credit rating at (double-A) AA for over three years.
The global ratings agency explained that South Korea's economy has strong fundamentals and is well-diversified, meaning it does not depend on a certain industry or export.
It also forecast South Korea's GDP per capita to rise from about 32-thousand U.S. dollars this year to 35-thousand dollars in 2022.
It expected the short-term GDP growth to hover at around 2-percent.
But the agency also said South Korea's exports have been slowing down... and the trade spat between Seoul and Tokyo has raised uncertainties which in turn have affected investment sentiments.
The agency recommended Seoul to increase its productivity, especially with its rapidly aging population.
The global ratings agency explained that South Korea's economy has strong fundamentals and is well-diversified, meaning it does not depend on a certain industry or export.
It also forecast South Korea's GDP per capita to rise from about 32-thousand U.S. dollars this year to 35-thousand dollars in 2022.
It expected the short-term GDP growth to hover at around 2-percent.
But the agency also said South Korea's exports have been slowing down... and the trade spat between Seoul and Tokyo has raised uncertainties which in turn have affected investment sentiments.
The agency recommended Seoul to increase its productivity, especially with its rapidly aging population.