The Korea Mortgage Corp. (Komoco), a South Korean government-backed entity created last year to jump-start a secondary mortgage market, recently announced plans to issue the country's first mortgage-backed issue before the end of March.

"We are targeting an issue of roughly W500 billion ($444 million) before the end of the first quarter this year," said Kwun Kyung Won, head of Komoco's business preparation and support teams in Seoul.

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