A Ministry of Finance and Economy official said Thursday that a Standard & Poor's inspection team will visit Seoul in late August to conduct a survey of the country's economic situation for a possible upgrading of the nation's sovereign rating.
The official said that it's difficult to predict whether S&P will raise Korea's sovereign credibility, but is concerned with how S&P will evaluate corporate and financial restructuring amid ongoing efforts to sell Hyundai Investment Trust & Securities, Seoul Bank, and Daewoo Motor.
An S&P team visited Seoul in January 1999 for a field survey and upgraded Korea's sovereign rating in November that year to triple-B from triple-B minus.