BNY Mellon has secured full All Asset Trust License in Korea to provide trustee services in the nation.

The licence allows the company to provide customised domestic issuer and related investor services, such as the ability to offer alternative investment options on cash balances in asset backed securitisation (ABS) structures.

BNY Mellon Asia Pacific head of corporate trust Gary Lew said: “Asset Backed Securitization structures are attractive to investors from a diversification standpoint, whether within the domestic market or for foreign investors investing into Asia.

“The broadening of our trustee services to offer a comprehensive suite of solutions further supports our commitment to the steadily developing Korean ABS market.”

BNY Mellon offers investment management investment services across 35 countries and over 100 markets. The company set up an office in Seoul in 1988.