Jung Hwan Lee, President of Korea Housing Finance Corporation, Pledges "Achieving Digital Financial Innovation" on 16th Anniversary

Lee Jeong-hwan, President of the Korea Housing Finance Corporation

[Asia Economy Reporter Kwon Haeyoung] Lee Jeonghwan, President of Korea Housing Finance Corporation (KHFC), emphasized achieving digital financial innovation on the occasion of the corporation's 16th anniversary.

On the 28th, in his anniversary speech, President Lee stated, "Let us actively utilize rapidly advancing digital technologies to elevate ourselves as a competitive digital innovative financial institution. This year, we will enhance the convenience and productivity of loan screening and achieve company-wide digital financial innovation across all business sectors, including housing guarantees and housing pensions."

He added, "As a public institution, we must focus on public interest and strive to provide new products and services that meet the needs of the people in a timely manner. I urge all KHFC employees to do their best this year in handling the Jeonse deposit return guarantees to minimize damages from non-return of Jeonse deposits, especially in single-family and multi-family houses, which have recently become a social issue, and to protect tenants."

He also called for the provision of new housing finance products and services. President Lee said, "Going forward, we must secure KHFC's growth engine by developing new housing finance services based on information and communication technology (ICT), such as offering personalized housing finance products and providing comprehensive financial consulting tailored to life cycles."

On the occasion of its 16th anniversary, KHFC pledged to become an "institution leading the realization of social value through inclusive housing finance practices." It plans to strengthen customized debt adjustment programs for vulnerable groups and, in line with social issues such as elderly poverty and aging, to play the role of a "guardian of a happy old age" through housing pensions and the HF Happiness Caregiver Project. On the 27th, instead of holding an anniversary event this year, KHFC donated the entire budget for anniversary gifts to the Green Umbrella Children’s Foundation, providing hygiene kits including masks and emergency food supplies to children from low-income families at the Busan Child Support Center, which has lost support due to the recent spread of COVID-19.

Meanwhile, KHFC has led the qualitative structural improvement of household debt by supplying 305 trillion KRW in policy mortgages. For housing credit guarantees, it supplied 376 trillion KRW up to last year, and since the launch of the housing pension in 2007, it has paid pensions totaling 5 trillion KRW to more than 70,000 people. Additionally, KHFC recently succeeded in issuing 1 billion euros of covered bonds at a negative interest rate of -0.02%.

This content was produced with the assistance of AI translation services.