Reported 2 days ago
Fitch Ratings is observing how South Korea navigates geopolitical tensions, especially in light of escalating trade conflicts between the U.S. and China. Korea's position as a major U.S. ally, coupled with significant tariffs from both nations, presents challenges for its economy, which unexpectedly contracted recently. Fitch doesn't anticipate changes to South Korea's 'AA-' rating for now, though it projects economic growth at just 1.0% for the year. As South Korea faces a political crisis and prepares for a snap presidential election, negotiations with the U.S. regarding tariffs are underway.
Source: YAHOO