BUSAN, South Korea, Nov. 18 (UPI) -- Asia-Pacific leaders' statement on North Korea's nuclear drive is expected to benefit the South Korean economy, a senior official said Friday.
The South Korean economy, the world's 11th biggest, has long been hit by geopolitical risks caused by North Korea's nuclear weapons programs.
But any statement on the North's nuclear standoff backed by the 21 Pacific Rim countries will help reduce geopolitical risks, Vice Finance Minister Kwon Tae-shin told journalists on the sidelines of the Asia-Pacific Economic Cooperation forum.
South Korean President Roh Moo-hyun, chairman of this year's APEC Summit, is expected to announce a verbal statement on the nuclear problem at the end of the two-day summit Saturday. Any written document was reportedly dismissed by China's opposition.
"Most businessmen I meet during investor relations sessions abroad do not have big concerns about the North Korean nuclear issue, but any statement will be helpful," he said.
Kwon said progress in the North's nuclear standoff would lead to improvement of the country's sovereign rating, adding such views had been expressed by Moody's Investors Service, Standard & Poor's and Fitch Ratings.
