Do the Korg keyboards incorporating KARMA have an arpeggiator?
No, the KARMA Technology provides Generated Effects (GEs) instead. A GE is far more advanced than any arpeggiator, pattern-playback system, phrase sequencer, etc. They can do everything arpeggiators do, and more. Up to 4 GEs can be used at a time in Combi mode or Sequence mode, and 1 GE can be used at a time in Program mode.