Korea's record of steady economic growth has resulted in a prosperous economy, high fiscal and monetary flexibility, and a robust external position. High geopolitical risks and contingent liabilities temper these strengths. We are affirming our 'AA' long-term and 'A-1+' short-term sovereign credit ratings on Korea. The stable outlook reflects our expectation that geopolitical risks on the Korean peninsula will not escalate to the point of hurting Korea's economic fundamentals over the next two years. On Nov. 6, 2019, S&P Global Ratings affirmed its 'AA/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Korea. The outlook is stable. The stable outlook reflects our expectation that geopolitical risks in the Korean peninsula will not escalate to the point of
