The Korea Asset Management Corp. (Kamco), South Korea's bad debt-clearing agency, was set to launch its fourth and last non-performing loan backed securitization of the year on December 27, said a Kamco official.

The W265 billion ($237.5 million) issue by special purpose corporation Kamco Mirae Bond 99-4 is collateralized by bank loans with a face value of W281.8 billion purchased by Kamco from Korea Development Bank, Korea Exchange Bank and Hanvit Bank. The loans were extended to Kia Heavy Industries, Poonghan Corp. and Sammi Corp., all of which are now undergoing court receivership.

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