October 18, 2023 08:26
Global ratings firm Fitch has maintained Korea's credit rating at the fourth-highest level, AA-, with a stable outlook.
The agency said on Tuesday that "Korea's rating balances robust external finances, resilient macroeconomic performance and a dynamic export sector against geopolitical risks... lagging governance indicators relative to 'AA' rated peers and structural challenges from an ageing population."
As for its economic growth outlook for next year, the credit appraiser projects 2.1-percent growth for Korea, an increase from this year's 1 percent, driven by positive export and investment momentum led by semiconductors.
Fitch's rating for Korea has remained unchanged since September 2012.
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