A U.S. credit rating agency, Moody's Investors' Service, has played down the impeachment motion in South Korea.

Thomas Byrne, a senior credit officer at the rating agency, said the motion is not an immediate concern since it is not likely to be approved by the National Assembly.

Byrne said that even if the impeachment motion passes the National Assembly, it would not affect South Korea's sovereign credit ratings as that nation's political system is stabilized enough to ensure a smooth transfer of power.

But he did warn that if political dispute and confusion escalate over the issue, it would negatively affect the economy.