KHFC and Incheon Development and Tourism Corporation Sign Strategic Business Alliance

- Sixty percent discount on jeonse loan guarantee fee when IDTC uses housing guarantee service -

The Korea Housing Finance Corporation (KHFC) and Incheon Development and Tourism Corporation (IDTC) announced on June 20 that they signed a business alliance agreement at the KHFC head office in Seoul to increase housing support for low-income households.

This agreement includes cooperation on mortgage loans involving Bogeumjari loans and housing guarantees when providing homes for new sales and rentals; lowering the guarantee fees for the customers of houses supplied by IDTC; and exchange of information on housing supply plans, housing financial products and the housing finance trend to improve the availability of housing and housing finance.

“With this business alliance, guarantee fees will be lowered by 60% for jeonse loan guarantees and 25% for guarantees for installments. Tenants will enjoy substantial benefits, and we expect the utilization rate of guarantee services to go up,” said an official at KHFC.