[Sejong=Asia Economy Reporter Moon Chaeseok] The Ministry of Economy and Finance announced on the 29th that Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki will conduct the annual consultation this year with the executive in charge of country credit ratings for the Asia-Pacific region at Standard & Poor's (S&P). Deputy Prime Minister Hong will meet with the Asia-Pacific executive of the international credit rating agency about 20 days after his meeting on the 2nd (local time) with Marie Diron, Head of Moody's Asia-Pacific, Central Asia, and Africa.
The Ministry of Economy and Finance will hold the annual consultation with S&P for four days from today until the 2nd of next month. The S&P delegation includes Kim Eng Tan, Senior Director in charge of Asia-Pacific country credit ratings, and Ipan Pua, Director in charge of Asia-Pacific country credit ratings. This is the first time since COVID-19 that a credit rating agency has visited Korea to conduct face-to-face consultations. The meeting with Moody's was held at the Hilton Hotel in London, UK.
The Ministry of Economy and Finance explained, "The S&P delegation will discuss sectoral trends, outlooks, and policy responses of the Korean economy with the Ministry today, and will pay a courtesy visit to Deputy Prime Minister Hong the following day." It added, "Subsequently, they plan to discuss economic trends and outlooks related to country credit rating evaluations, as well as major policy directions, with the Financial Services Commission, the Bank of Korea, the Korea Development Institute (KDI), and the Korea Institute for International Economic Policy (KIEP)."
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