□ The JooTaekYeonKeum (JTYK) monthly payments to be adjusted next February in response to changes in house prices and other key variables

Those who apply for the JTYK reverse mortgage program on February 1 next year or afterwards will receive an adjusted monthly JTYK payment.

Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) announced on the 27th that it obtained approval from the Housing Finance Steering Committee on December 18, 2015 to adjust key variables* that determine its reverse mortgage payouts and that it would apply the adjustment starting next February.

* Key variables (e.g., rate of increase in home prices, life expectancy, long-term interest rate) are recalculated by an external specialized agency at least once a year and the recalculated values are reflected in HF's monthly JTYK payment.

The adjustment will lower the monthly payments for ordinary homes and seniors' residences by an average of 3.2% and an average of 1.3%, respectively, starting next year.

□ Monthly payments for existing subscribers and new subscribers applying by the end of January will remain unchanged

The adjusted monthly payments will apply to those who subscribe to the JTYK program in February 2017 or later. The existing subscribers and new subscribers applying by the end of January 2017 will receive the monthly payment determined at the time of their subscription.