Very high likelihood of support from the Korean government Strict firewall separating the bank from the National Federation of Fisheries Cooperatives' (NFFC) business units Moderate market position Below-average funding base Relatively weak profitability and asset quality The stable outlook on the ratings on Suhyup Bank reflects Standard&Poor's Ratings Services' assessment that the bank has a very high likelihood of receiving government support and that the bank will likely maintain its financial profile including capitalization. We could take positive rating actions on Suhyup if the bank's capitalization strengthens, lifting its risk-adjusted capital (RAC) ratio above 7%. We think that this may happen if the planned reorganization plan (i.e., to spin off Suhyup Bank from NFFC), which is currently in
