JTYK Monthly Payouts to Be Adjusted for New Applicants from February 3

- An average 1.5% increase in the amount 

- No change in the amount for those who have joined, and will join, JTYK before February

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) revealed on January 16, 2020, that it will adjust JTYK monthly payouts for new applicants from February 3, 2020.

At the end of every year, HF recalculates the amount of JTYK monthly payouts to reflect ▲ life expectancy according to the Life Table released each December by Statistics Korea, ▲ house price movements, ▲ interest rate trends, and other key variables and presents it to the Housing Finance Steering Committee for deliberation before making the final adjustment. 

With the year’s adjustments, monthly payouts for those applying for the ordinary JTYK scheme from February 3, 2020, will increase by an average of 1.5%. This upward adjustment in JTYK monthly payouts reflects a minor increase in life expectancy and a steady decline in interest rates during the past year.

By age group, JTYK monthly payouts will increase, on average, by ▲ 3.9% for those in their 60s and ▲ 1.4% for those in their 70s, while they will decrease by ▲ 0.5% for those in their 80s and ▲ 1.0% for those in their 90s. By home price range, they will increase, on average, by ▲ 2.3% for homes valued at KRW 300 million or less, ▲ 2.3% for homes valued at KRW 500 million or less, and ▲ 1.0% for homes valued at KRW 700 million or less, while they will decrease by ▲ 0.7% for homes valued at KRW 900 million or less.

An HF official said, “Monthly payout adjustments vary depending on age group and home price range. We recommend that those considering JTYK subscription consult us first to get detailed information on their expected monthly payout.”