Seoul: Finance Minister Koo Yun-cheol held annual consultations with Moody's Investors Service earlier this week to discuss South Korea's economic conditions and key policy directions, the finance ministry said Friday. The meeting, held Thursday in Seoul, brought together Koo and a Moody's credit assessment team led by Anushka Shah, the Ministry of Economy and Finance said in a press release.

According to Yonhap News Agency, Koo highlighted that the country's economic growth rebounded in the latter half of last year, thanks to swift policy actions following the inauguration of the new government. He noted that the economy grew by 1 percent last year, surpassing the government's initial forecast of 0.9 percent.

The finance minister reiterated that the government's focus this year is on fostering a "super-innovation economy" and advancing the economic transformation driven by artificial intelligence (AI). The series of consultations included meetings with the finance ministry, the unification ministry, the Bank of Korea, and other relevant agencies from Tuesday through Thursday.

As a result of the annual consultation, Moody's is expected to announce South Korea's sovereign credit rating within the first half of the year. Since 2015, Moody's has maintained its credit rating for South Korea at "Aa2," the third-highest level on the company's scale, with a stable rating outlook.