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South Korea’s Financial Environment Stays Resilient Amid the Geopoliti…

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Writer Invest Seoul Day17-09-01 13:48 View274

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South Korea’s Financial Environment Stays Resilient Amid the Geopolitical Tensions

 

 

◆ S&P affirms South Korea's AA rating amid 'remote' chance of conflict

Credit ratings agency Standard & Poor’s has affirmed South Korea’s long term AA rating, as it expressed optimism that geopolitical tensions in the region “will not escalate” into armed conflict in at least the next two years.

S&P said its outlook for Republic of Korea was “stable”, with the risk of an armed conflict in the Korean peninsula “remote” though it acknowledged the risk had grown.

“Our ratings on Korea reflect the country’s favorable policy environment, sound fiscal position, and net external creditor position. We believe Korea’s high-income economy continues to demonstrate stronger growth prospects than most developed countries’. Significant security risks and contingent fiscal liabilities partly offset these strengths.”

 

Last year, S&P upgraded South Korea's sovereign rating to the record high of AA, the third-highest grade in the company's evaluation scheme.

 

◆ Economic Fundamentals even stronger among tensions

In the mean time, South Korea's export continued to record even stronger growth in 2Q 2017. According to WTO, total export of South Korea in 2Q 2017 was USD 147.2 billion, 16.8% up YoY. YoY growth trend is becoming stronger from 1.8% in 4Q 2016, 14.9% in 1Q 2017 to 16.8% in 2Q 2017. South Korea was the only country which marked double digit export growth among the top 10 export countries. South Korea stands 6th among the countries in terms of the total export amount, same as 1Q.

 

Also, South Korea's trade surplus remained in the black for the 66th month in a row in July amid brisk outbound shipments. The country's trade surplus came to USD 10.3 billion last month, slightly down from a surplus of USD 10.7 billion a month earlier, according to the data from the Korea Customs Service. South Korea has posted a monthly trade surplus since February 2012.

 

 

 


 

 

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