This report supplements our research update "Republic of Korea Long-Term Sovereign Rating Raised To 'AA' With Stable Outlook; Short-Term Rating Affirmed At 'A-1+'," published on Aug. 8, 2016. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. Our sovereign credit ratings on Korea reflect the country's favorable policy environment, sound fiscal position, and net external creditor position. Significant security risks and contingent fiscal liabilities partly offset these strengths. Korea has exhibited stronger economic performance in recent years than most other high-income economies (see "Sovereign Risk Indicators 2016 Estimates"). S&P Global Ratings projects
