Finance chief holds annual consultations with Moody's on sovereign credit rating

SEOUL, Jan. 30 (Yonhap) -- Finance Minister Koo Yun-cheol held annual consultations with Moody's Investors Service earlier this week to discuss South Korea's economic conditions and key policy directions, the finance ministry said Friday.

The meeting, held Thursday in Seoul, brought together Koo and a Moody's credit assessment team led by Anushka Shah, the Ministry of Economy and Finance said in a press release.

Koo said the country's economic growth recovered in the second half of last year, supported by swift policy responses following the launch of the new government.

He further said the economy grew 1 percent last year, exceeding the government's initial forecast of 0.9 percent made earlier.

The minister reaffirmed that the government's priorities this year include building a "super-innovation economy" and accelerating the economic transformation based on artificial intelligence (AI).

The team held a series of meetings with the finance ministry, the unification ministry, the Bank of Korea and other relevant agencies from Tuesday through Thursday.

Based on the annual consultation, Moody's is expected to announce South Korea's sovereign credit rating within the first half of the year, it added.

Moody's has maintained its credit rating on South Korea at "Aa2," the third-highest level on the company's table, since 2015, with a stable rating outlook.

khj@yna.co.kr
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