Echoing warnings that everything in South Korea's madcap securitization market may not be healthy (ASRI 4/24/2000 p2), Standard & Poor's recently cautioned that the growth in ABS may be obscuring lingering trouble with asset quality and could be storing up problems for the future.

Korea's ABS market has grown at an astonishing rate, with W22.9 trillion worth of ABS issued in the first six months of this year, more than three times the amount in all of 1999.

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