Choi Sang-mok, who met Moody's, "Minimizing debt growth through restructuring of spending"

Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok attended the World Bank Development Committee in Washington, D.C., on the 25th local time and met with Moody's and Euroclear, the Ministry of Economy and Finance said.

"We will continue to push for policies to minimize national debt growth through intensive spending restructuring," Choi told global credit rating agency Moody's Maridiron, highlighting the government's firm sound fiscal stance.

Moody's explained, "Korea's high credit rating (Aa2) reflects the solid fundamentals of the Korean economy."

He also praised South Korea's fiscal consolidation policy, saying, "Not many countries actually implement fiscal spending adjustments," and added that the recent inclusion of the World Government Bond Index (WGBI) was also a result of South Korea's efforts.