This report supplements our research update "Korea Foreign Currency Sovereign Ratings Raised To 'AA-/A-1+'; Outlook On Long-Term Ratings Stable," published on Sept. 15, 2015. 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 ratings on the Republic of Korea reflect the country's favorable policy environment, sound fiscal position, and net external creditor position. Significant security risks and contingent liabilities offset these strengths. Korea has exhibited stronger economic performance in recent years than other high-income economies, which has augmented sovereign credit support. Standard&Poor's Ratings Services estimates the trend rate of
