Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) announced on the 21st that it will work hand in hand with
the Korea Asset Management Corporation (KAMCO, CEO Hong Young-Man) to improve housing stability for low-income
and vulnerable homeowners by protecting them from foreclosure <see the image below>.

The two state-run agencies reached an MOU agreement under which, for homeowners late on their Bogeumjari Loan*
payments and in danger of foreclosure, HF will cut its late payment interest down to the originally agreed interest rate,
while KAMCO will help them restructure their loan into a longer-term, low-interest rate loan. Thanks to the agencies
commitment to stable housing, homeowners in mortgage arrears will be able to keep their homes.
    * Bogeumjari Loan is a long-term, fixed-rate mortgage loan designed to allow customers to repay the principal
and interest of their loan over a period of 10 to 30 years.
To become eligible for loan restructuring opportunities offered by HF and KAMCO, one should meet the following
qualifications: a person who is three months or more late on his/her Bogeumjari Loan* payments; a person
whose aggregate annual income including his/her spouse amounts to KRW 60mn or less; a person whose home
is valued at KRW 600mn or less; and a person who has owned a single home for his/her household for
two years or longer.
     * This includes uㅡBogeumjari Loan and e-Bogeumjari Loan.

An HF official said, “This MOU agreement has been reached as part of our efforts to fulfill a Government 3.0 task,
which is to ensure housing stability for low-income and vulnerable homeowners through collaboration with other
public agencies. We expect that our program to lower late payment interest rates in combination with KAMCO's
program to support the house poor will provide significant help to cash-strapped low-income homeowners.”


<Image Description>
Kwon In-Won, Managing Director of Securitization Division at HF (left), poses for a photo with Lee Jong-Jin, Managing Director
of Financial Restructuring Division at KAMCO, after signing an MOU agreement on housing stability for low-income homeowners
at the HF headquarters in the Busan International Finance Center on the 21st.