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Walter Torous. Baek, Jee hee. Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development. Massachusetts Institute of Technology. Center for Real Estate a-kr--- 2021-01-06T17:40:24Z 2021-01-06T17:40:24Z 2020 2020 https://hdl.handle.net/1721.1/129106 1227100421 Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, September, 2020 Cataloged from student-submitted PDF of thesis. Includes bibliographical references (pages 54-55). This thesis studies the application of securitization such as Project Finance Asset-Backed Securities (PF ABS) and Mortgage Backed Securities (MBS) as a method of real estate finance in Korea. Real estate in Korea has developed substantially with a remarkable economic growth in last 20 years. As real estate became one of the most popular investment methods, real estate finance also developed into a more diversified and complex structure. Real estate securitization provides an alternative to the traditional way of financing by liquidating the real estate related assets and makes access easier for all participants in the process. In Korea, real estate securitization was first adopted in 1999, with the initiation of the Asset Securitization Act. Though the concept of Asset-Backed Securities (ABS) started late compared to the global securitization industry, the Korean ABS market has grown so substantially that the total issuance amount reached $43 billion in 2019, having expanded by almost eight-fold from the beginning of the market in 1999. With a considerable progress in the market, some of securitization products have developed with distinctive features. Of many products, this thesis mainly studies two types of real estate securitization products, Project Finance Asset-backed Securities (PF ABS) and Mortgage-backed Securities (MBS). By going through the market trends and social context of both products, it will cover what can be suggested for further improvement of the real estate finance market in Korea by Jee hee Baek. S.M. in Real Estate Development S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate 55 pages eng Massachusetts Institute of Technology MIT theses may be protected by copyright. Please reuse MIT thesis content according to the MIT Libraries Permissions Policy, which is available through the URL provided. http://dspace.mit.edu/handle/1721.1/7582 Center for Real Estate. Program in Real Estate Development. Real estate securitization in Korea : application of PF ABS and MBS Application of Project Finance Asset-Backed Securities and Mortgage Backed Securities Thesis application/pdf 2021-01-06T17:40:23Z Publication Master RED unknown unknown <Publication xmlns="https://www.openaire.eu/cerif-profile/1.1/" id="2835b892-e300-4163-8844-3bfba213afb6"> <Type xmlns="https://www.openaire.eu/cerif-profile/vocab/COAR_Publication_Types">http://purl.org/coar/resource_type/c_1843</Type> <Language>eng</Language> <Title>Real estate securitization in Korea : application of PF ABS and MBS</Title> <Subtitle>Application of Project Finance Asset-Backed Securities and Mortgage Backed Securities</Subtitle> <PublishedIn> <Publication> </Publication> </PublishedIn> <PublicationDate>2020</PublicationDate> <Authors> <Author> <DisplayName>Baek, Jee hee.</DisplayName> <Affiliation> <OrgUnit> </OrgUnit> </Affiliation> </Author> </Authors> <Editors> </Editors> <Publishers> <Publisher> <DisplayName>Massachusetts Institute of Technology</DisplayName> <OrgUnit /> </Publisher> </Publishers> <License>http://dspace.mit.edu/handle/1721.1/7582</License> <Keyword>Center for Real Estate. Program in Real Estate Development.</Keyword> <Abstract>This thesis studies the application of securitization such as Project Finance Asset-Backed Securities (PF ABS) and Mortgage Backed Securities (MBS) as a method of real estate finance in Korea. Real estate in Korea has developed substantially with a remarkable economic growth in last 20 years. As real estate became one of the most popular investment methods, real estate finance also developed into a more diversified and complex structure. Real estate securitization provides an alternative to the traditional way of financing by liquidating the real estate related assets and makes access easier for all participants in the process. In Korea, real estate securitization was first adopted in 1999, with the initiation of the Asset Securitization Act. Though the concept of Asset-Backed Securities (ABS) started late compared to the global securitization industry, the Korean ABS market has grown so substantially that the total issuance amount reached $43 billion in 2019, having expanded by almost eight-fold from the beginning of the market in 1999. With a considerable progress in the market, some of securitization products have developed with distinctive features. Of many products, this thesis mainly studies two types of real estate securitization products, Project Finance Asset-backed Securities (PF ABS) and Mortgage-backed Securities (MBS). By going through the market trends and social context of both products, it will cover what can be suggested for further improvement of the real estate finance market in Korea</Abstract> <Access xmlns="http://purl.org/coar/access_right" > </Access> </Publication>