NEW YORK (Standard&Poor's CreditWire) Jan. 25, 1999-- Standard&Poor's today raised the ratings of the Republic of Korea as follows: foreign currency long-term senior unsecured and sovereign credit ratings to triple-'B'-minus from double-'B'-plus, foreign currency short-term credit rating to 'A-3' from 'B', and local currency long-term sovereign credit rating to single-'A'-minus from triple-'B'-plus. The republic's 'A-2' short-term local currency credit rating was affirmed. The outlook on both the foreign and local currency long-term ratings remains positive. In a related action, Standard&Poor's raised the following ratings of the Korea Development Bank (KDB) and the Export-Import Bank of Korea (Kexim): long-term foreign currency counterparty and senior unsecured ratings to triple-'B'-minus from double-'B'-plus, and short-term foreign currency counterparty
