The South Korean market seems to be catching on to the securitization game as the market has seen a substantial boost in deals over the last year-and-a-half. According to a report issued by Standard & Poor's, the need for cheap funding is instigating the ever-growing securitization market.

According to the report, a proficient non-bank consumer finance industry has developed as a result of the government's initiative to ignite the usage of credit cards. "South Korea began encouraging increased credit card use in 1999 to improve tax collections and bolster domestic growth and consumption, which would lessen the country's dependence on exports," the report said.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.