The nascent Korean credit-rating industry and asset-backed market has just received a boost, as the country's Finance Supervisory Service (FSS) recently provided Seoul Credit Information (SCI), the largest of the four rating agencies in Korea, with the ability to rate asset-backed transactions and short-term corporate bonds. The company is also said to be actively seeking a foreign partner in the U.S. to help expand its business.

With the newfound ability to provide ratings on bonds issued without guarantees, including high-yield and subordinated bonds, SCI will now step farther ahead of its competition - Korea Credit Information, Korea Credit Evaluation and Korea Management Consulting and Credit Rating Corp. The company was also listed on the Kosdaq for the first time this year and the combined will allow the company to expand its business.

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