Seoul, Jan 9 (IANS) Major global credit rating agencies agreed on Thursday that the political uncertainty in South Korea has had a limited impact on the economy so far, yet warned of potential challenges if the situation is prolonged, the finance ministry said.
Moody’s Investors Service, Fitch Ratings and Standard & Poor’s Global Ratings shared the assessment during separate virtual meetings with acting President Choi Sang-mok, according to the Ministry of Economy and Finance.
The agencies evaluated the immediate economic impact of the current political situation, stemming from President Yoon Suk Yeol’s brief declaration of martial law on Dec. 3 and his subsequent impeachment, is minimal, reports Yonhap news agency.
However, they warned prolonged instability could deter foreign investment and influence corporate decision-making if the situation continues.
Choi assured the agencies that uncertainties will soon be resolved through the country’s constitutional and legal systems.
He also emphasized the government’s commitment to ensuring that major economic policies and legislative agendas are smoothly handled through a consultative body with the National Assembly.
Choi, who doubles as deputy prime minister for economic affairs, held similar meetings in early December before assuming interim leadership.
Meanwhile, President Yoon Suk Yeol’s lawyers said they have filed for an injunction against a second warrant to detain him over his brief imposition of martial law.
Yun Gap-geun and other members of the impeached president’s legal defense team made the remark during a meeting with foreign news outlets, saying the request was filed with the Constitutional Court, along with a request for adjudication on a competence dispute.
The Seoul Western District Court issued the warrant on Tuesday after investigators filed for an extension of their initial warrant that expired the previous day.
An attempt to execute the warrant last Friday failed after Yoon’s bodyguards blocked investigators from entering the official presidential residence.
A second attempt is expected to be made in the coming days.
—IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
