To assess the market impact of the downgrade of the United States' credit rating, the government held a market situation inspection meeting (conference call) with relevant agencies.
The Ministry of Economy and Finance held a conference call at 8 a.m. on the 19th, chaired by Yoon In-dae. Participants included officials from the Bank of Korea, Financial Services Commission, Financial Supervisory Service, and the International Financial Center.
Conference call participants noted that "Moody's downgrade of the U.S. credit rating was somewhat anticipated in the market," and assessed that the impact on the market would be limited.
However, they decided to closely monitor domestic and international financial and foreign exchange market trends based on cooperation among relevant agencies, considering that this downgrade may act as a factor expanding volatility in the short term, along with existing external uncertainties such as tariff negotiations between major countries and the U.S. economic situation.
Earlier, on the 16th (local time), Moody's downgraded the United States' credit rating from the previous "Aaa" to "Aa1," while adjusting the rating outlook from "negative" to "stable." This marks the first downgrade of the U.S. credit rating by Moody's in 108 years. In addition to Moody's, Standard & Poor's (S&P) downgraded the U.S. credit rating in 2011, and Fitch did so in 2023.