HF Shares Its Housing Finance Expertise with Armenian Delegation 

- HF explains state-sponsored mortgage, debt securitization, and reverse mortgage JTYK as well as asset-backed security issuance

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) announced on June 21, 2019, that it transferred its housing finance know-how to an Armenian delegation from the National Mortgage Company and Central Bank of Armenia and other Armenian financial institutions at its headquarters in Busan International Finance Center <See the image below>.

  * The National Mortgage Company (NMC) is a state-run housing finance institution established in 2009 under the Central Bank of Armenia to offer mortgage refinancing services and, thereby, promote the residential welfare of the Armenian people.   

The delegation made up of financial officers from the Central Bank of Armenia, NMC, and the Armenian Securities Exchange visited HF for training. During the training session, HF explained the current status of its state-sponsored mortgage products and asset-backed securities issuance. In line with the current status of the Armenian housing market, it also introduced its Bogeumjari Loan, credit guarantees, reverse mortgage scheme JooTaekYeonKeum (JTYK), and other housing finance products.         

An HF officer said, “We hope that this training will serve as a good opportunity to continue our information exchange and cooperation for the development of the South Korean and Armenian housing markets.”

Last March, HF signed the MOU for the Advancement of the Asian Housing Finance Market with the Armenian NMC. Since reaching an MOU with the national housing finance corporation of the Philippines in 2015, it has taken the initiative in further international cooperative efforts through concluding MOUs with national housing finance corporations of nine Asian nations, including Thailand and Indonesia.

<Image Description>

On the 21st, HF CEO Lee Jung-Hwan (sixth from right) poses for a photo with the Armenian delegation from the National Mortgage Company, Central Bank, and other financial institutions of Armenia after the ‘Seminar for the Visiting Armenian Delegation’at HF headquarters in Busan International Finance Center at Munhyeongeumyung-ro, Busan.