HF Offers Housing Assistance to Employees of Small Companies in Gyeongbuk Province  

- HF joins hands with Gyeongsangbuk-do, Daegu Bank, and NH Bank for the Didimdol Project for Youth’s Happy Housing 

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) is set to help young employees of small- and medium-sized companies secure stable housing. 

HF stated on August 5, 2019, that it signed a memorandum of understanding (MOU) with Gyeongsangbuk-do (Governor Lee Chul-Woo), Daegu Bank (CEO Kim Tae-Oh), and NH Bank Gyeongbuk Branch (General Manager Nam Jae-Won). Under the title “MOU on the Gyeongbuk Didimdol Project for Youth’s Happy Housing,” it aims to ease the jeonse loan burden on young people living and working for small- and medium-sized companies located in Gyeongsangbuk-do. 

The target beneficiaries of the Project are young adults aged 19 to 39 years who have graduated from a high school in Gyeongbuk Province and are currently working for local small- and medium-size companies. The Project offers a jeonse loan guarantee of up to KRW 100 million for homes less than 60㎡ in net floor space. 

Under the MOU, HF will provide the beneficiaries with a 0.1%p guarantee rate discount for jeonse loans of up to KRW 50 million as well as guarantees of up to 90% of the jeonse loans. Gyeongsangbuk-do will then reimburse their interest costs. The two banks will offer them jeonse loans of up to KRW 50 million. For a loan amount in excess of KRW 50 million, ordinary jeonse loan guarantee products are available.

HF CEO Lee Jung-Hwan said, “We hope this MOU will alleviate the home loan burden of Gyeongsangbuk-do’s young people. HF will realize inclusive home financing for financially vulnerable groups.” 

HF has reached MOUs with 11 local autonomous governments to help newlywed households and young adults with their jeonse loan interest costs.

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On the 5th, HF signed the “MOU on the Gyeongbuk Didimdol Project for Youth’s Happy Housing” with Gyeongsangbuk-do, Daegu Bank, and NH Bank Gyeongbuk Branch at the Provincial Government Office of Gyeongsangbuk-do. From the left are, Gyeongsangbuk-do Governor Lee Chul-Woo, Daegu Bank CEO Kim Tae-Oh, HF CEO Lee Jung-Hwan, and NH Bank Gyeongbuk Branch General Manager Nam Jae-Won.