Pointing to an array of sound economic fundamentals, Moody's affirmed South Korea's sovereign rating at Aa3. "Further supporting Korea's rating are the reduced external vulnerability of the banking sector, the resiliency of the economy to global shocks, the competitiveness of Korea's export industries and the continuation of the status quo in Korean peninsula geopolitics," the agency said. However, Moody's cited persistent and worrisome public and household debt problems.

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