According to the Standard & Poor's chief economic policymaker assessment on Thursday, the South Korean economy is optimistic despite eased tensions within inter-Korean relations. Finance Minister Kim Dong-Yeon stated during the meeting with the S&P delegation that the overall situation of Korea’s economy is positive with a smooth development in geopolitical risks with North Korea. Kim Eng Tan, senior director of Asia-Pacific sovereign ratings at S&P, flew to South Korea to meet the officials from the Bank of Korea, Ministry of Strategy and Finance, and other government agencies. The annual meeting took place last month and during the progressing inter-Korean summit between the two Korean leaders President Moon Jae-in South and Kim Jong-un from the North. Moon and Kim had a deal to end the conflict and led a summit at the border village of Panmunjom, the two leaders also agreed to completely denuclearize the Korean Peninsula and to establish a strong and perdurable peace regime. The fourth largest economy in Asia gained an upgraded “Aa2” rating from Moody’s in 2015, which is the third-highest rate based on the company's table. On one hand, Standard and Poor's gave the country an "AA" grade in 2016. While Fitch scored an unchanged "AA-" rating for Korea in 2012.
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