- Training to disseminate Korea’s housing finance system and financing methods to Mongolia 

Korea Housing Finance Corporation (KHFC, CEO Joo-jae Lim) is taking the lead in disseminating Korea’s housing finance system and financing methods to Mongolia.

On May 18, 2010, the corporation announced that it would invite six officials from Mongolian Housing Finance Corporation (MHFC)* from May 18, 2010 to May 20, 2010 for a 3-day international training. (See photo) 

* The MHFC (Mongolian Housing Finance Corporation) is a public institution established by the Ministry of Finance and the Ministry of Construction of Mongolia in October 2007 in Ulan Bator to promote housing development and housing finance in Mongolia.

The officials invited to the training are experts in charge of major decision-making in mortgage loans, finance management, and legal divisions. 

At the international training, KHFC will present an overview of Korea’s housing market, the regulatory system for mortgage loans, the issuance of mortgage-backed securities (MBS), Bogeumjari loans, housing credit guarantees and housing pension guarantee products, as well as financing of the development of new towns in Korea and case studies of advanced urban development.   

“Through the international training, we plan to share information on the housing markets between Korea and Mongolia and maintain continuing cooperation,” said an KHFC official.  

Following the signing of a Memorandum of Understanding (MOU) with MHFC in November 2007, KHFC, on two occasions, provided training to MHFC officials regarding product development and issuance of MBS to vitalize the housing financial market in Mongolia as well as housing credit guarantees for medium- and low-income people and risk management methods.

<In the photo>

KHFC CEO Lim (center) poses for a photo with MHFC officials on May 18, 2010 at KHFC headquarters in Namdaemun-ro in Seoul prior to the 3-day international training.