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S. Korea: Gov't Seeks Long-Term Plan to Achieve 'AAA' Rating
Source: world.kbs.co.kr
Source Date: Friday, October 05, 2012
Country: Korea (Republic of)
Created: Oct 09, 2012

The government will establish a long-term plan to achieve the highest credit rating of triple A (AAA).

Finance Minister Bahk Jae-wan gave a briefing on his ministry’s plans during a parliamentary audit Friday, explaining a long-term plan will be created to realize the triple A status. This follows after South Korea's sovereign rating was upgraded by all three of the major global credit raters.

He promised to maintain a fiscal balance but also strengthen the fiscal role to better respond to the economic cycle.

The minister also said the global economy appears to have barely weathered critical moments last month and this month, but a fundamental solution has yet to be reached.
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