The first deal from South Korea's primary CBO program was issued in early August, in a W1.55 trillion ($1.4 billion) transaction arranged by LG Securities (ASRI 7/3/2000 p.1 7/17/2000 p.2 and 7/31/2000 p.3).

The deal is backed by corporate bonds issued by 60 companies and forms part of the Korean authorities efforts to funnel money to medium-sized Korean companies which are struggling with a credit crunch.

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