KHFC and KRC Sign a Pension Business Cooperation Agreement

- Initiate bilateral cooperation for joint marketing of the JTYK loan and the Farmland Pension program -

The Korea Housing Finance Corporation (KHFC, CEO Seo Jong-dae) and the Korea Rural Community Corporation (KRC, CEO Park Jae-soon) announced that they signed a business agreement on September 10 to enhance cooperation toward supporting senior citizens for a stable post-retirement life.

The highlights of the agreement include joint marketing for senior citizens, bilateral support in education and PR activities, and exchange of information to promote the JTYK program and the farmland pension program. "KHFC and KRC are leading government corporations that offer pension programs for senior citizens. The two organizations plan to work together on an on-going basis for greater security for senior citizens in such ways as sharing their experience in managing pension programs,” said CEO Seo.

Meanwhile, KHFC has been offering the JTYK loan, a reverse mortgage program for senior homeowners aged 60 or older who lack retirement savings, since July 2007. KRC has been operating the farmland pension program for senior farmers aged 65 or older to support their living since January 2011.