South Korea's credit rating remains “stable” despite the political turmoil after President Yoon Suk Yeol’s surprise martial law declaration last week, according to an assessment shared by three major global credit appraisers.

The finance ministry on Friday said Moody's Ratings, Fitch Ratings and Standard and Poor's Global Ratings(S&P) made the assessment during virtual meetings with Finance Minister Choi Sang-mok the previous day at the government complex in Seoul.

In the meetings, Choi explained the recent political situation in the country and the direction of the government’s responses.

Choi reportedly emphasized that South Korea's government systems are functioning normally, adding that two previous presidential impeachment cases also had only a limited impact on the economy.

The minister then vowed his commitment to ensure stable investment and business activities for foreign investors, calling for the credit appraisers to maintain their attention and confidence in the South Korean economy. 

The credit appraisers reportedly said that South Korea’s credit rating remains stable despite the recent political chaos and that they witnessed the strength and resilience of the national system of the country.