Geopolitical development turning positive for S. Korea: Moody's

SEJONG, April 6 (Yonhap) -- The geopolitical situation on the Korean Peninsula is turning positive for South Korea, as its economic fundamentals remain sound, a global rating agency said Friday. A delegation led by Michael Taylor, chief credit officer at Moody's, has been in South Korea since Wednesday for meetings with officials from the Ministry of Strategy and Finance, the Bank of Korea and other government agencies. In a meeting with Finance Minister Kim Dong-yeon earlier in the day, the Moody's delegation confirmed that South Korea's economy is very healthy and that a rise in global trade is benefiting the economy. Moody's said it is looking at how geopolitical conditions facing South Korea will unfold going forward, according to the finance ministry. Kim stressed that the Korean economy will be boosted by income-led and innovation-based growth, while explaining a variety of economic policies to the delegation. Moody's checked the macroeconomic policies of the Moon Jae-in government, as well as financial issues like household debt, according to the finance ministry. The country's fiscal health and financial stability, along with trade issues and geopolitical developments surrounding North Korea, were all examined. Moody's upgraded the rating for South Korea to "Aa2" in 2015, the third-highest level on the company's table, while Standard and Poor's also gave the country a grade rise to "AA" in 2016. Fitch has maintained its fourth-highest "AA-" rating for Asia's fourth-largest economy since 2012. sam@yna.co.kr (END)