KRW250 Billion Extended in Bogeumjari Loan in September

Less than in August, partly because of Chuseok holidays

  Bogeumjari loans are a long-term, fixed rate mortgage loan product. The growth of demand for them has slowed down slightly. According to KHFC, it extended KRW249.9 billion in bogeumjari loans in September, which is a 22.6% decrease from KRW322.9 billion in August.

  The decline may be attributable to there having been five fewer business days in September than in August due to the Chuseok holidays. In addition, loans were extended in advance in July and August because the interest rate on bogeumjari loans was raised on July 31.

  Meanwhile, the issuance of e-mortgage loans, an internet loan product carrying a 0.2%point interest rate discount benefit, totaled krw93.7 billion and accounted for 38.5% of the KRW249.9 billion in total bogeumjari loans extended in September.

  For the first nine months of this year, a total of KRW1.1081 trillion was extended in e-mortgage loans, accounting for 44.8% of total bogeumjari loan lending (KRW2.4730 trillion).