March 20, 2019 11:35
Standard & Poor's has warned Korean companies of downgrades in their credit ratings.
Korean companies' credit ratings improved from 2015 to 2017 but entered "a cycle of gradual decline" in the second half of last year, according to a report released by the global ratings firm on Tuesday.
S&P said major Korean companies are likely to suffer downgrades over the next 12 months.
The firm attributed the setback to the tough domestic business environment. Korea suffers weak domestic demand, and exports are expected to decline because the semiconductor market is slowing down.
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