South Korea’s chief economic policymaker has stressed that reduced geopolitical risks and the country’s improved economic conditions call for a rating upgrade, the finance ministry said Thursday.
In a meeting with Fitch Ratings President Ian Linnell in London on Wednesday, Finance Minister Kim Dong-yeon said the Seoul government will beef up the country’s fiscal soundness, according to the finance ministry.
|Finance Minister Kim Dong-yeon(left) meets Fitch Ratings President Ian Linnell, Nov. 28 (Yonhap)|
Kim also stressed that the country’s expansionary fiscal spending is aimed at creating more jobs and narrowing income inequality while boosting growth potential.
In June this year, Fitch reaffirmed its fourth-highest rating, “AA-,” for South Korea with a stable outlook, citing lingering geopolitical risks and concerns of a trade war between the United States and China. (Yonhap)