** FILE ** Iraqi Sunnis pray by the coffins of some of the men found dead last month in eastern Iraq, apparently executed, during the funeral in Baghdad, Iraq, in this Friday, Oct. 7 2005 file photo. The 22 bodies, found blindfolded and bound, were identified as Iraqi Sunnis and returned to their families. The number of Iraqis who have died violently since the U.S.-led invasion is many times larger than the U.S. military death toll of 2,000 in Iraq. In one sign of the enormity of the Iraqi loss, at least 3,870 civilians were killed in the past six months alone, according to an Associated Press count. (AP Photo/Khalid Mohammed)



Editorial) South Korea recovers sovereign rating.

Fitch Ratings, a leading credit appraiser, upgraded South Korea's sovereign rating yesterday. This is the second upgrade of South Korea after Standard & Poor's rating the last July. The third credit appraiser in the world, Moody's, is supposed to come after tangible results of the six party-talks early next month. Accordingly, some experts predict that South Korea will soon recover her sovereign rating up to the level of before the IMF crisis. Domestic private research centers also expect that the South Korean economy will recover, so South Koreans may well expect a bright future for her economy.
It is Internationally appraised that South Korea is recovering economically. A higher sovereign rating brings with it some positive aspects, such as improving credit status, receiving loans from overseas, encouraging foreigners to make domestic investments, as well as solving the uncertainty of economic power.
It was pointed out that the change of sovereign rating is not a result of a recovery of the domestic economy, but by the decrease of "risk of North Korea's nuclear weapons".
It is "disappointing" that the South Korean economy would expand 3.5 percent this year, according to Fitch. It is true that economic conditions are not better than expected. Despite the fact that the present economic situation of South Korea cannot be satisfied with the sovereign rating, the Blue House and concerned authorities are proud of the change in the sovereign rating.
Most of all, they should increase the potential power of economic growth and insure substantiality in South Korea. South Korea should rise out of the mire of stagflation and raise her international status to that of other countries. Private investments should be actively made as well. When red figures in finance and financial debts are increasing every year, South Korea cannot insure substantiality. In order to stimulate the economy following the upgrading of South Korea's sovereign rating, they must know where to direct government policies.
/ 입력시간: 2005. 10.26. 08:27