South Korea hosted the fifth G20 summit in its capital city, Seoul, in November 2010. The two-day summit was expected to boost South Korea's economy by 31 trillion won, or 4% of South Korea's 2010 GDP, in economic effects, and create over 160,000 jobs in South Korea. It may also help improve the country's sovereign credit rating.
Despite the South Korean economy's high growth potential and apparent structural stability, the country suffers damage to its credit rating in the stock market because of the belligerence of North Korea in times of deep military crises, which has an adverse effect on South Korean financial markets.[152][153] The International Monetary Fund compliments the resilience of the South Korean economy against various economic crises, citing low state debt and high fiscal reserves that can quickly be mobilized to address financial emergencies.[154] Although it was severely harmed by the Asian economic crisis of the late 1990s, the South Korean economy managed a rapid recovery and subsequently tripled its GDP.[155]