NongHyup Bank announced on the 17th that it will suspend the conditional jeonse loan service in the Seoul area starting on the 21st. The suspension of the conditional jeonse loan service is typically a measure to curb speculative demand, such as gap investments.
Accordingly, NongHyup Bank plans not to process loans that are received simultaneously with conditions such as the transfer of ownership from the lessor, reduction or cancellation of the senior mortgage, and cancellation of trust registration beginning on the 21st.
A NongHyup Bank official noted, "NongHyup Bank has been considering various measures to manage the increase in household loans for some time," and added, "With the importance of managing household debt highlighted during the financial authorities' household debt review meeting on the 17th, we announced the suspension of conditional jeonse loans."