KOREA: S&P Maintains Korea’s Credit Rating at AA

Tuesday August 29 2017

Standards & Poor’s announced on the 18th of August that it would leave Korea’s credit rating unchanged at AA with the nation’s economic outlook remaining stable.

The international credit-rating service has maintained an AA credit rating, its third-highest grade, on Korea since August 2016.

The rating company projected that Korea’s average GDP per capita will rise to above USD 33,000 in 2020, from approximately USD 29,000 this year. It also estimated that the trend rate of the nation’s real per capita GDP growth would be 2.3 percent higher than the typical 0.3 to 1.5 percent range observed in most high-income countries. Korea’s current account surplus would widen to a record 8.5 percent of GDP this year, and overall economic growth would hit 2.8 percent, it projected.

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