South Korea “ have raised “the International rating agency Moody`s Investors Service has raised a sovereign rating of South Korea with À1 to Aa3. The forecast on a rating - “ stable “ it is told in the agency message.
Besides, the agency has raised ratings of six state financial institutions of republic with A1 to Aa3 with “ stable “ the forecast. It is a question about Export - Import Bank of Korea, Industrial Bank of Korea, Korea Finance Corp., Korea Housing Finance Corp., Korea Development Bank and Korea Student Aid Foundation.
making comments on the reasons of increase of a rating, in agency have noted steady financial indicators of the republic, allowing to overcome risks and external threats for national economy. Besides, world financial crisis practically has not mentioned the state balance of South Korea that has allowed the country budget to show proficiency with 2010ã. And also to keep a state debt indicator at rather low level in relation to gross national product, have noted in agency.
one more positive factor for republic is stability of the Korean labour market. As of July 2012ã. The rate of unemployment in the country makes 3,1 %, despite delay of world economic growth. Besides, the proceeding increase in labour productivity and reduction of specific costs at labour promote maintenance of competitiveness of the Korean economy and gross national product growth.
it is necessary to notice also that Moody`s has confirmed the point of view stated earlier that relations of Republic Korea with northern the neighbour do not render negative influence on its rating. Experts of agency mark conditions improvement in Democratic People`s Republic of Korea after power transition, in particular development of relations testifies to it with China.