South Korea will begin annual consultations with S&P Global Ratings in the week beginning March 9 to assess its sovereign credit rating, Yonhap News reported Thursday, citing the Ministry of Economy and Finance.
S&P officials will visit key institutions, including the Bank of Korea, for a five-day review. Despite the political turmoil that followed President Yoon Suk Yeol's short-lived martial law imposition earlier in December 2024 and his eventual impeachment, S&P has maintained South Korea's "AA" rating since 2016, the report said.
The South Korean government, currently led by acting President Choi Sang-mok, has engaged global agencies to ensure credit stability. In February, Fitch Ratings reaffirmed South Korea's "AA-" rating with a stable outlook, it said.
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