SEOUL, Jan. 23 (Xinhua) -- Asset-backed securities (ABS) issuance in South Korea fell last year on lower growth of mortgage loans amid the government's measures to control speculative investment in the property market, financial watchdog data showed Tuesday.
ABS issuance amounted to 57.6 trillion won (53.7 billion U.S. dollars) in 2017, down 5.1 percent from the previous year, according to the Financial Supervisory Service (FSS).
Sales of mortgage-backed securities (MBS) declined 10.2 percent over the year to 31.7 trillion won (29.6 billion U.S. dollars) in 2017 amid weaker demand for home-backed loans. The MBS securitizes mortgage loans with principals and interests to receive as underlying assets.
The Moon Jae-in government, which was inaugurated in May last year, unveiled a set of measures to curb speculative investment in the real estate market, weighing down on multiple homeowners who sought to buy new homes with borrowed money.
ABS sales by financial companies, including credit card issuers, banks and securities firms, reduced 8.8 percent over the year to 14 trillion won (13.1 billion U.S. dollars) in 2017.
Issuance of ABS, which was issued by mobile operators and airlines with installments to receive as underlying assets, increased 18.1 percent to 11.9 trillion won (11.1 billion U.S. dollars) last year.
