Improved Sovereign Credibility Outlook Draws More Support

Following Moody's and Standard and Poors' improved outlook for Korea's economic situation, the world-renowned economic evaluation institute Wharton Economic and Financial Association(WEFA) raised Korea's credibility as well.
WEFA, which is affiliated with the University of Pennsylvania, announced its result last December that Korea had cleared dangerous conditions in foreign exchange, prices and credibility of business groups.
WEFA uses a numbered scale in twelve areas of a nation's economy where 0 is the lowest and 10 signifies the best reliabiliy and security.
Korea's foreign exchange ratio rose to 3 from 2 and prices went up to 4 from 3 points.
The country's credibility was raised from 2 to 5 points.
In terms of mid and long-term national danger, Korea received a 5 which reflects a far brighter future than last year promised.
WEFA evaluated that Korea's financial institutions are increasing loans for medium-sized business groups, which indicated a more stable economic environment and opportunities for expansion than before.