Delegation visits South Korea from Tuesday through Thursday, meeting government agencies and the Bank of Korea

Talks to cover macroeconomic outlook, trade, monetary and fiscal policy

Fitch Ratings has launched its annual consultation to assess South Korea's sovereign credit rating, with discussions expected to cover macroeconomic trends, the outlook and key economic policies. The agency is expected to announce its rating decision in the fourth quarter of this year.

The central building of Government Complex Sejong in Eojin-dong, Sejong [Newsis]
The central building of Government Complex Sejong in Eojin-dong, Sejong [Newsis]

The Ministry of Economy and Finance announced Tuesday that a Fitch annual consultation delegation will visit South Korea from Tuesday through Thursday, holding consultations with government ministries and key related institutions.

The delegation includes Thomas Rookmaaker, Fitch's head of Asia-Pacific sovereign ratings, and Sagarika Chandra, director of sovereign ratings.

The team is scheduled to visit the Ministry of Economy and Finance, the Ministry of Planning and Budget, the Ministry of Unification and other government ministries, as well as the Bank of Korea, the Korea Institute for International Economic Policy and the Korea Development Institute. Discussions will cover South Korea's macroeconomic trends and outlook, along with trade, monetary and fiscal policy.

Fitch conducts annual consultations with the Ministry of Economy and Finance and other major institutions each year, using the results to assess South Korea's sovereign credit rating. This year's rating decision was announced in January. Previous assessments were released in March 2024 and in March and October 2023.

The government plans to arrange an in-person meeting between Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il and the Fitch delegation. Through the meeting, the government intends to explain South Korea's economic conditions and key policy directions, and to work actively with related ministries and institutions throughout the consultation process.


y2k@heraldcorp.com