President Kim Kyung-hwan of the Korea Housing Finance Corporation said on the 31st that in the new year policy mortgages will be managed to provide real help for low-income households seeking to buy a home and for financially vulnerable groups.
In a New Year's message released that day, Kim said, "We will move away from supplier-centered thinking and provide services that people expect," and stated accordingly.
Kim said, "We will ensure that policy mortgages provide real help for low-income households seeking to buy a home and for financially vulnerable groups, and we will supply new dwelling guarantee products suited to conditions in the lease market." Kim added, "We will make home pensions a tool for old-age security for more people so that they also contribute to housing stability for low-income households and revitalization of regional economies."
Kim said, "By supporting the private-sector spread of limited-recourse loans, we will reduce the financial burden on borrowers, and we will also work to activate payment guarantees for covered bonds issued by regional banks to strengthen the institutional foundation for expanding long-term, fixed-rate mortgage loans." Kim added, "In response to changes in lease market conditions such as demographic shifts and rising monthly rents, we will actively review introducing new guarantee products."