KHFC Firmly Supports Underprivileged Families!!

- Jeonse support guarantee for underprivileged families increased by 42% over the previous year -

The Korea Housing Finance Corporation (KHFC, CEO Seo Jong-dae) announced on October 18 that it provided the jeonse loan guarantees totaling KRW 3.2554 trillion to underprivileged families such as handicapped or multi-cultural families from January through September 2012. According to KHFC, the jeonse loan guarantees for underprivileged families from January through September this year increased 42.4% year-on-year (KRW 2.2867 trillion → KRW 3.2554 trillion).

A breakdown of jeonse loan guarantees by family category shows that the guarantees to handicapped households increased by 64.6% year-on-year (KRW 59.9 billion → KRW 98.6 billion), while the guarantees to multi-cultural families increased by 59.8% (KRW 31.1 billion → KRW 49.7 billion). In addition, the guarantees to the newlyweds went up by 46.7% (KRW 1.8910 trillion → KRW 2.7732 trillion) and to families with at least three children rose by 9.6% (KRW 304.7 billion → KRW 333.9 billion).

“KHFC proactively honors the government policy to reach out to low-income households, in such ways as lowering the guarantee fee by 0.1%p to households that need special consideration. As jeonse housing prices are expected to rise continuously in the future, KHFC will continue to improve the program and further expand guarantee service to underprivileged families,” said an official at KHFC.