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I held off buying my Modwave because it has no free-running LFOs, which are essential for creating good drones and pads. The only way I can do it is using the Kaoss pad, which is a waste of good LFOs. Korg could, at any time, have provided an update to fix this.

I've not investigated but I suspect that the Mark II has free-running LFOs. Am I correct?

Looks like it does. From the Korg website:

"Introducing modwave mkII - now with almost double the polyphony, expanded free-running LFOs, and more! "

and

"we've updated all LFOs with options for free running, delayed start, and retriggering"

See here for the full info:

https://www.korg.com/us/products/synthe ... dwave_mk2/

.