The South Korean secondary mortgage body, Korean Mortgage Corp. (Komoco) was back in the domestic MBS market at the beginning of the month, with a W500 billion ($448 million) deal.

The deal was Komoco's second MBS and one of only a handful of mortgage-backed transactions that the country has seen so far. It was backed by 110,000 mortgages originated by National Housing Fund of the Ministry of Construction and Transportation, the country's biggest mortgage originator with a market share of over 50%.

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