The Korea Mortgage Corp. (Komoco), a newly created quasi-sovereign mortgage corporation, has inked an agreement with the International Finance Corp. (IFC), the private lending arm of the World Bank, that will give the IFC a 15% share in the new venture.

Under the agreement, the IFC's stake worth about W15 billion ($12.6 million) will be purchased from Korea's Ministry of Construction and Transportation (MOCT) which currently owns 45% of Komoco.

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