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News Briefing
Moody’s Maintains Korea’s Sovereign Credit Rating at “Aa2” with a “stable” outlook
Jun 2024
On May 9, Moody’s Ratings affirmed Korea’s credit rating of “Aa2” with a “stable” outlook for local and foreign currency long-term bonds. The agency’s assessment reflected a balanced view of the Korean economy, highlighting Korean economy’s diversification and competitiveness, vigilant institutional management, and strong fiscal space. Moody’s also noted the challenges facing the Korean economy such as a rapidly aging population, slower productivity growth and geopolitical risk concerning North Korea.

Moody’s forecasted South Korea’s real economic growth rate to reach 2.5% this year, driven by a recovery in the semiconductor industry and facilities investment, following a growth of 1.4% in 2023.