Global credit rating agencies say geopolitical risks on the Korean Peninsula are easing due to improving relations between the South and North.

Officials from Standard and Poor's, Moody's and Fitch revealed the assessment when they met with South Korean Finance Minister Kim Dong-yeon in Washington on Sunday. 

The officials said South Korea is showing steady economic growth and highly assessed the government's efforts to further expand potential growth. They also said they will watch with keen interest on whether the upcoming inter-Korean summit and U.S.-North Korea summit will produce substantive results. 

In response, Kim said the top agenda for the upcoming inter-Korean summit is the denuclearization of the Korean Peninsula and the permanent establishment of peace. He vowed to closely cooperate with neighboring countries to make progress in these regards.