SG Asia recently closed the first internationally placed securitization backed by domestic South Korean assets, in a deal for its affiliate Korean French Banking Corp. (known as Sogeko). The deal was also the first cross-border securitization to use the Korean ABS law, which was passed in 1998, and the first Asian securitization to be issued with the backing of the World Bank's private equity arm, the International Finance Corp. (IFC).

If that were not enough, it is also the first time that lease assets - a mainstay of the securitization business elsewhere in the world - have been securitized in ex-Japan Asia. (Another Korean lease-backed deal, arranged by Credit Lynonnais for KDB Capital, was about to close as the ASRI went to press.)

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