Social Value of Housing Finance Services to Be Measured in Monetary Terms 

- HF inks MOU with LH and SK Group’s SUPEX Council 

HF is set to strengthen its social value management system. To this end, it will measure the social value generated from its housing finance business in monetary terms and reflect the results in its internal performance evaluation, thus reinforcing its social value management system.  

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) said on September 10, 2019, that to establish a system of quantifying social value in the housing welfare area, it signed a memorandum of understanding (MOU) with Korea Land and Housing Corporation (LH) and SK SPEX SV Committee (SV Committee)*. The MOU aims to measure and promote the creation of social value. <See the image below.>

 * SV (Social Value) Committee: As one of the seven committees run by SK SUPEX Council, SV Committee is dedicated to social value creation and shared growth.  

Under the MOU, HF, in partnership with LH and SV Committee, will conduct research on indicators to measure the social value of its home financing business and develop a joint social value project to improve the living conditions of socially underprivileged groups and create rental-housing related jobs. In particular, SV Committee will provide HF with a set of metrics, helping HF establish the concept of social value before building a measurement system. More specifically, it will ▲ develop standards on the measurement of social value in the areas of housing affordability and housing finance, ▲ build a system to spread social value in the area of housing welfare, and ▲ explore opportunities for joint projects to create social value.  

HF CEO Lee Jung-Hwan said, “We will do our best to assign an objective monetary value to the social value we create and reflect the results in our business operations, thereby improving housing welfare and quality of life for the public.” 

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On the 10th, Korea Housing Finance Corporation (HF) signed the “Memorandum of Understanding on Measuring and Promoting the Creation of Social Value” with Korea Land and Housing Corporation (LH) and SK SUPEX SV Committee. At the signing ceremony held at the SK building in Seorin-dong, Jongno-gu, Seoul, HF CEO Lee Jung-Hwan (center) posed for a photo with  LH CEO Byeon Chang-Heum (left) and SK SPEX SV Committee Chair Lee Hyeong-Hee (right) after signing the MOU.