Bogeumjari Lending Exceeds KRW10 Trillion

 Cumulative issuance of bogeumjari loans exceeded the KRW10 trillion mark in only three years and one month since they were introduced on March 25, 2004.  As of May 9, bogeumjari loans totalling KRW10.0039 trillion were provided to about 136,000 households, helping them become home owners.

 A bogeumjari loan is a long-term (10 years or more), fixed-rate, installment housing loan product, and it has done much to stabilize the housing finance market by helping people become home owners and enabling customers to refinance variable-rate loans from other financial institutions at a low fixed-rate.

 E-mortgage loans have been available online since June 2006 and amounted to KRW749.2 billion or 7.5% of the cumulative total.