Moody's maintains Korea's credit rating at Aa2

Global rating agency Moody's Investors Service on Wednesday reaffirmed its record-high Aa2 rating for South Korea, with its rating outlook also remaining stable, despite rising tensions over North Korean issues.

"Korea's credit profile is supported by the country's very high economic strength, which is reflected in relatively robust growth and high competitiveness," it said in its latest report. "A very strong institutional framework also underpins the rating, bolstering resilience to potential economic and financial stability risks."

In December in 2015, Moody's upgraded South Korea's credit rating to Aa2 from Aa3, the highest-ever rating the country has received from the agency.

Aa2 is the third-highest rating on the credit worthiness designation, with France, Britain and Hong Kong all on the same rating level.