Standard and Poor's kept South Korea's credit ratings at their previous levels despite the COVID-19 pandemic.
Seoul's long-term sovereign credit rating remains at 'double-A'....and short-term at 'A-plus',...with S&P citing the country's current economic slump as "temporary".
South Korea has seen its first negative economic growth since 1998 but is expected to rebound next year on the back of recovering consumption and the government's stimulus policy,...which will boost its GDP growth rate by up to 5 percent.
The Global agency's, rating for Seoul remains unchanged since 2016.