The Korea Asset Management Corp. (Kamco), the government agency mandated with cleaning up domestic banks, launched its third non-performing loan backed securitization last week.

The latest issue from Kamco Mirae 99-3 ABS Specialty Co. Ltd. totaled W223 billion ($188.6 million) and comprised five tranches of senior bonds totaling W205, plus a subordinate piece worth W18 billion and kept by the issuer.

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