Special Bogeumjari Loan Reaches KRW 25.6 Trillion in Applications (113,000 Applicants) Since Its Launch Two Months Ago

Korea Housing Finance Corporation (HF, CEO Choi Joon-Woo) stated on April 7, 2023, that as of March 31, 2023, it has received Special Bogeumjari Loan applications amounting to KRW 25.6 trillion.

 ㅇ Breaking down the total loan applications by their intended purpose, the largest portion, 49.1%, was used for repaying existing loans (approximately 56,000 applications). Following closely, 43.0% was dedicated to purchasing new homes (about 49,000 applications), with the remaining 7.9% used for the return of rental deposits (about 9,000 applications).

SC First Bank and Shinhan Bank received face-to-face applications using the ‘t-Type’ loan, reaching KRW 2.2 trillion or 8.7% of the total. Beginning in March, a 0.1 percentage point interest rate discount was introduced for face-to-face applications, leading to an uptick in their popularity. This trend has been reinforced as IBK has also adopted the in-person application method.

 ㅇ In May, HF intends to enhance customer convenience by extending its in-person services to Nonghyup Bank, Woori Bank, and Hana Bank.