Global credit appraisers have said sweeping tariffs by US President Donald Trump’s administration and the political chaos following now-suspended President Yoon Suk Yeol’s martial law are not expected to affect South Korea’s sovereign credit rating. The assessment was made during meetings between Choi Jong-ku, who serves as South Korea’s ambassador-at-large for international financial cooperation, and officials of Moody’s Investors Service, Fitch Ratings and Standard & Poor’s Global Ratings. Yoon declared martial law Dec. 3, which caused political turmoil and affected the foreign exchange and stock markets. The National Assembly voted to impeach Yoon pending a Constitutional Court ruling. Fitch said it has reaffirmed South Korean’s sovereign rating at \”AA-\” with a stable outlook. The ambassador also held an investor relations session in Singapore on Thursday in an effort to reassure investors about the country’s strong economic and financial fundamentals despite political chaos. The IR session was attended by senior officials of major investment companies, including BlackRock and Pimco.
