Seoul: The government briefed global credit appraiser Moody's Corp. on the latest developments in the South Korean economy and its efforts to pursue both growth and fiscal soundness through next year's budget proposal, the finance ministry said Tuesday. Moon Ji-sung, deputy minister for international affairs at the Ministry of Finance and Economy, met with Maria Lee, a managing director at Moody's, and outlined the country's budget proposal for next year as well as efforts to improve foreign investors' access to its markets.
According to Yonhap News Agency, Moon highlighted the country's proposed Future Fund, which would be financed in part by windfall tax revenue from the global semiconductor upcycle driven by the artificial intelligence (AI) boom. He stated that the fund would prioritize strategic investment over one-off spending and help stabilize public finances. In response, Moody's offered a positive assessment of Asia's fourth-largest economy, noting Seoul's budget proposal seeks to balance fiscal soundness with efforts to secure future growth engines.
The agency praised South Korea's successful issuance of foreign exchange stabilization bonds, with Moon noting strong participation from major investors, including central banks of major economies and international organizations. The appraiser also welcomed Seoul's efforts to improve foreign investors' access to its foreign exchange and capital markets, with Moon pledging to further lower barriers and promote the internationalization of the won.
The internationalization of the won aims to enable the currency to be freely held, traded, and raised outside South Korea, marking a significant step in enhancing the currency's global role and accessibility.