- Lim reveals plans in his 2010 New Year speech - 

The Korea Housing Finance Corporation (KHFC, CEO Joo-jae Lim) plans a significant expansion in the number of Bogeumjari loans and Jootaekyeonkeum (JTYK) reverse mortgages this year as part of efforts to expand home ownership opportunities for the working class.

“In a business management contract, the directors and I committed ourselves to a very challenging and aggressive internal business management goal of creating 8 trillion won in Bogeumjari loans and 2,500 new accounts offering Jootaekyeongeum (JTYK) financing,” announced Lim in his 2010 New Year speech on January 4, 2010. “(Through these efforts) we will move another step toward providing financing for an ever growing number of people and ensuring the advancement and stabilization of the housing finance market, goals that together form the major challenge of our times and make up the core mission of KHFC.”

Lim also affirmed that he would devote himself to increasing the supply of Bogeumjari loans and JTYK mortgages, which are KHFC’s signature brands, and the expansion of its financing infrastructure. “We must continue to improve the product competitiveness of Bogeumjari loans in terms of interest rates, and accelerate the current momentum. Through these efforts, we aim to change the fundamentals of the housing finance market that has become prey to the chronic herd behavior of variable interest rates, and help bring stability to the housing market for the working class.”

He also added, “The JTYK reverse mortgage, which enters its third year of operation this year, also stands at a crossroads, ready to redouble its strength as a social safety net for seniors. Recognizing that a meek advance is equivalent to stagnation and setback, we should all, from CEO to sales office staff, concentrate on attracting new subscriptions and promotional marketing efforts at the corporate level.”