Lee Eog-weon, Chairperson of the Financial Services Commission (FSC), said at the second real estate grand debate presided over by the prime minister on the 27th, "Regulation on household loans must remain consistently strict," adding, "However, we are giving a lot of thought to whether there might be realistic ways to ease inconveniences for genuine demand such as young people and newlyweds."
At the debate that day, the Chairperson said this while responding after an attendee asked to ease loan regulations for genuine demand such as young people and newlyweds.
The Chairperson said, "When (dwellings) supply is insufficient and market liquidity is overflowing, even slightly easing loans risks rekindling the housing market, creating a vicious cycle." He added, "Under the overall stance, we must remain consistently strict on household loans and real estate loans."
He continued, "However, the task is how to reconcile, as a matter of policy, the inconvenient parts for genuine demand such as young people and newlyweds," adding, "With pinpoint support, we are thinking hard about what realistic, alternative ways might exist to resolve inconveniences without undermining the (overall loan management) stance."
Regarding concerns raised that some cannot obtain balance loans due to banks cutting loan limits, the Chairperson said, "Just because a new regulation came out after all apartment tenant recruitment announcements were completed does not mean (pre-subscribers) are disadvantaged; the previous rules apply." He added, "Banks are tightening further as they work to meet aggregate household loan caps," and said, "For balance issues, we will consult the banking sector swiftly once more to find what realistic measures might be available."
In addition, regarding a remark by an attendee at the debate presided over by the president on the 23rd who said, "Because I inherited a partial dwelling share as a minor, I was not recognized as a first-time homebuyer," the Chairperson suggested, "While principles should remain principles, I wonder if, at places like banks, collective deliberation through bodies such as the credit screening committee could be used to hear cases and, if reasonable, allow exceptions."