KHFC announces winners of a public contest on successful housing purchases

based on preferential-rate Bogeumjari loans

-  Winning stories posted on the official website of KHFC  -

Having held a public contest on the success stories of homebuyers using Bogeumjari loans with preferential interest rates, the Korea Housing Finance Corporation (KHFC) announced on November 20 that it has published six winning stories among 112 total entries on its official website (www.hf.go.kr)

The preferential-rate Bogeumjari loans refer to KHFC’s mortgage loans offered to households with an annual income of 50 million Korean won or under—with interest rates discounted by 0.5-1%p based on government grants.

The first prize went to “Our second child was born in our new home” by an applicant known by the surname, Lee, who portrayed the story of how she searched for deposit-based rentals as a heavily pregnant woman but finally bought a house with the preferential-rate Bogeumjari loan. Two stories won the runner-up prizes: “Living in what truly is our home” by another applicant known by the surname, Lee, who shared the happiness of buying his own house after experiencing difficulties and distress as a tenant; and “I am sorry, Mom” by Kwak, a touching story about how the newlywed applicant managed to buy a house for him and his wife as well as his widowed mother and two nephews to provide for.

KHFC will award two million Korean won in prize money to the first prize winner, one million Korean won each to the two runner-up prize winners and 500,000 Korean won to three winners of the participation award. Gifts will also be given to other applicants and online voters selected by lot.

The public contest was held from September 24 through October 26, with six winning stories chosen through internal screening and online voting by KHFC customers on the official website.

“We will publish this year’s winning stories both into a book and on our official website so that they can become widely known and help low-income families suffering from rental shortages buy their own homes,” said one KHFC official.