HF Set to Develop State-Sponsored Financial Instruments Tailored to People’s Needs

HF CEO stresses warm financing in his New Year’s speech

Korea Housing Finance Corporation (HF) CEO Lee Jung-Hwan stressed in his New Year’s address, “We will continue to develop state-sponsored financial instruments that can meet people’s needs and improve our housing finance system from the standpoint of people.”

HF CEO also said, “As the real economy and the financial markets get worse, the government and people’s demand for our role gets stronger. We will continue our efforts to develop state-sponsored financial instruments that people need and improve our operational system from the perspective of people.” He went on to say, “To this end, this year we will focus our company-wide efforts on developing financial services customized to the needs of underserved households and practicing warm housing finance by expanding limited liability mortgage products to protect financial consumers and prevent the overindebtedness of low-income households; offering home loan guarantee services to financially disadvantaged groups; and boosting the actual income of senior citizens through improvements to the Korean Home Pension.

He added, “We need to get away from the existing unnecessary and bureaucratic approaches and keep moving forward with innovation to make our organization smart. By embracing Open Data, Scraping, and other emerging digital techniques-driven financial innovation to our organization restructuring efforts, we will open a digital service center dedicated to state-sponsored mortgage products, establishing a no-visit, no-paper untact customer service system for greater user convenience.”