Mortgages to be originated by all commercial banks in Korea -origination to begin mid-August after working-level fine-tuning including IT development KHFC will greatly expand its network of participating lenders from nine to 22 financial institutions. They will include commercial banks headquartered in areas other than Seoul and two non-life insurance companies. After reviewing the intents of prospective lender institutions that were not included in March, KHFC decided selected the following financial institutions to join the lender institution network. -commercial banks: Four (Shinhan Bank, Chohung Bank, KorAm Bank, Suhyup) -commercial banks headquartered in areas other than Seoul: Six (Kyongnam Bank, Kwangju Bank, Daegu Bank, Pusan Bank, Jeonbuk Bank, Jeju Bank) -non-life insurance companies: Two (Samsung Fire Insurance, LG Insurance) -lending-only institution: Lotte Capital Implications of wider network of lender institutions -All the commercial banks (headquartered in Seoul or in areas other than Seoul) will originate mortgage loans. -In spite of a lower amount of loan transfer commitment due to low demand for homes and low housing prices, commercial banks headquartered in areas other than Seoul were included in the network of lender institutions in an effort to promote economic growth more widely and make finance available throughout the entire country. Non-life insurance companies and a lending-only financial institution will join the lender network. - Two life insurance companies and two additional non-life insurance companies will originate mortgage loans. Lending-only institutions will also originate mortgage loans After fine-tuning on the details of operation including loan transfer commitments and IT development in a one-month working level meeting with representatives from the new members of the network, KHFC will finally declare these financial institutions as lender institutions and let them begin to originate loan in mid-August.