April 13, 2015 10:00
International credit rating firm Moody's on Friday raised Korea's credit outlook from "stable" to "positive" thanks to improved efforts to rein in public debt.
The hike means Korea's credit rating is on track for a hike in six months to a year.
Moody's praised Korean banks' and businesses' reduced vulnerability to financial market fluctuations and improved fiscal health.
But it warned that failure to slam the brakes on household debt could hurt the country's long-term growth outlook.
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