Fitch Maintains South Korea's Sovereign Credit Rating at 'AA-' with a 'Stable' Outlook

International credit rating agency Fitch announced on the 13th that it has maintained South Korea's sovereign credit rating at AA- and the rating outlook as 'stable'.

Fitch explained, "Although there are geopolitical risks related to North Korea, weak governance indicators, and structural challenges due to aging, these are offset by strong external soundness, solid macroeconomic performance, and a dynamic export sector."

Fitch also projected that South Korea's economy will grow by 1.2% this year based on gross domestic product (GDP).