SEOUL, July 29 (Yonhap) -- The issuance of asset-based securities (ABSs) in South Korea climbed sharply in the first half due to a rise in the issuance of mortgage-backed securities (MBSs), data showed Wednesday.

The ABSs issued came to 26.6 trillion won (US$18.2 billion) in the January-June period, up 26.5 percent, or 5.57 trillion won, from a year earlier, according to the data from the Financial Supervisory Service.

ABS refers to securities based on such assets as mortgages, auto loans, credit card receivables and student loans.

The rise came as MBSs issued by the Korea Housing Finance Corp. came in at 11.98 trillion won in the first half, up from 5.37 trillion won a year earlier.

As of end-June, the value of outstanding ABSs stood at 246.5 trillion won, up 1.4 percent, or 3.4 trillion won, from a year before, the latest data showed.

sam@yna.co.kr

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