Global ratings agency, Standard and Poor's, has maintained South Korea's credit rating at its current level of "double A."
S&P affirms South Korea's economy as stable and expects it to continue to exhibit stronger growth compared to most other high-income economies.
In addition, S&P forecasts that South Korea's economic growth is highly unlikely to be impeded by COVID-19.
It also forecasts Seoul's economy to grow at a rate of up to 3.6 percent this year, backed by a recovery in consumption and the government's stimulus policies.
However, North Korea was pinpointed as a possible factor which could affect the stable outlook.
S&P's rating for South Korea has remained unchanged at "double-A," the third-highest level, since 2016.