Korea must mend its ways to achieve sustainable growth

Standard & Poor''s says Korea must show a willingness to adopt international best practices if it is to achieve growth.

International credit rating agency Standard Poor's says that Korea must show further commitment to international best practice throughout the corporate, government and financial sectors if it is to achieve sustainable economic growth in the future.

Remarking on the long-established practices of reputation-based lending, of placing revenue growth ahead of profitability and lack of market transparency, SP's managing director of corporate and government ratings for North Asia, Robert Richards, feels that, without change, Korea runs the risk of tarnishing its reputation with international investors.

Without the establishment of strong best practices such as sound corporate governance, prudent financial management and risk-based lending practices, Korea will continue to be isolated from diversified, cost effective, long-term...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222