On December 2, China Chengxin International Credit Rating Co., Ltd. downgraded South Korea's rating outlook from stable to negative, while maintaining its sovereign credit rating at AAg. China Chengxin believes that under high interest rates, the recovery of domestic demand in South Korea is sluggish, restricting economic recovery. With the expectation of rising trade protectionism, it is anticipated that South Korea's economic growth rate will slow down in 2025.