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  • Credit Agencies See No N. Korean Effects on S. Korean Economy

  • Deputy Prime Minister Kim Dong-yeon (right) holds a meeting with Moritz Kraemer, chief ratings officer at S&P Global, in Washington, D.C., on Oct. 13. (Ministry of Strategy and Finance)

    By Kim Eun-young and Yoon Sojung

    Deputy Prime Minister Kim Dong-yeon told journalists on Oct. 14 that, “Global sovereign rating agencies regard the effects of North Korean nuclear issues to not be enough to threaten the South Korean economy.”

    Deputy Prime Minister Kim, who also serves as the minister of strategy and finance, was speaking during a meeting with journalists in Washington, D.C. 

    Deputy Prime Minister Kim met with representatives from Moody’s, Fitch and S&P during his Washington trip to attend the G20 Finance Ministers Meeting and the IMF Annual Meeting on Oct. 12 and 13. 

    Kim explained to the three global ratings agencies the new Korean government’s will to shift the economic paradigm to a new “people-centered, sustainable growth economy” in order to fix the structural issues facing Korea and to achieve sustainable growth. He also told the agencies that the Korean government would announce measures related to deregulation, securing innovative capital and to the establishment of an "innovation ecosystem for innovative growth."

    Kim also told the reporters that the three agencies expressed thanks for the Korean government’s active communication efforts, as the meeting offered them an opportunity to boost their understanding of Seoul’s key issues.







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