This report does not constitute a rating action. Overview Institutional and economic profile Flexibility and performance profile A high-income, fast-growing economy despite security threats associated with North Korea Strong government and external balance sheets --A well-diversified and prosperous economy, with steady real economic growth, supports the sovereign ratings on Korea. --We expect the general government account to show small deficits in the next two to three years. --Korea's economic growth will likely be stronger than that of most high-income economies in the next three to five years, amid significant global economic uncertainties. We forecast real GDP per capita will grow by more than 2% per year on average between 2024-2027. --Contingent liabilities associated with North Korea and the debts of
