I am not familiar with the Korg, therefore I can't comment on its qualifications for your particular application...I can, however, suggest an alternative that fits nicely into your budget (as in $299 USD)...
Adobe Audition (Formerly Cool Edit Pro)...It is an excellent computer recording program for multi-tracking and editing...It comes complete with tons of plugins (EQ, Compression/Limiting, Delays, Verbs, Special FX, etc.,) that perform extremely...
There is a "demo" download of the program on the left side of the page. You should check it out. It's a very versatile recording program.
Good Luck!
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Chris - "Been there, Done that"
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