Merrill Lynch spinoff Merrill Lynch Global Emerging Partners recently announced that it has bought a 9.5% interest in Korea's secondary mortgage company, the Korea Mortgage Corporation (Komoco). Merrill's investment cost Krw10 billion ($8.8 million), half of which went to buying 4.75% of the International Finance Corp.'s - the World Bank affiliate - 15% share. The remaining stake came from the issue of new shares.

Merrill joins the Korean Ministry of Construction & Transportation, the Housing & Commercial Bank, Kookmin Bank, Korea Exchange Bank, Samsung Life Insurance, as well as the IFC, as a shareholder in the government-sponsored entity.

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