Seoul: The issuance of asset-based securities (ABSs) in South Korea fell 10 percent last year due to a fall in the issuance of mortgage-backed securities (MBSs), data showed Friday. The ABSs issued came to 46.7 trillion won (US$32.6 billion) last year, down 9.7 percent, or 5 trillion won, from the previous year, according to the data from the Financial Supervisory Service.

According to Yonhap News Agency, ABS refers to securities based on such assets as mortgages, auto loans, credit card receivables, and student loans. The decrease came as MBSs issued by the Korea Housing Finance Corp. dropped 28.1 percent on-year to 13.6 trillion won over the cited period.

As of end-December, the value of outstanding ABSs stood at 244.5 trillion won, down 5.1 percent, or 13.1 trillion won, from a year before, the data showed.