Korea Housing Finance Corporation Signs Agreement with Income-Led Special Committee and BNK to Promote Housing Pension

Busan, Ulsan, and Gyeongnam Agree to Mutual Efforts for Stable Retirement Life of Elderly and Middle-aged Groups

Korea Housing Finance Corporation signed a "Joint Business Agreement for the Revitalization of Housing Pension" on the 18th at the Busan Bank headquarters with the Special Committee on Income-Led Growth and BNK Financial Group to ensure stable retirement life for the elderly and middle-aged. Lee Jeong-hwan, President of the Housing Finance Corporation (right), Hong Jang-pyo, Chairman of the Special Committee on Income-Led Growth (center), and Kim Ji-wan, Chairman of BNK Financial Group, are posing for a commemorative photo.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Korea Housing Finance Corporation (HF), the Special Committee on Income-Led Growth, and BNK Financial Group, three institutions, signed a business agreement on the 18th to promote the activation of housing pensions for the stable retirement life of the elderly and middle-aged.

The housing pension is a product for the elderly and middle-aged aged 55 or older to live in their own homes and receive a lifelong pension, and it is a representative system that can stably prepare retirement living funds.

The three institutions including HF Corporation agreed that the activation of housing pensions is essential to revitalize the economy of the Busan, Ulsan, and Gyeongnam regions, where aging is rapidly progressing, and to focus on supporting vulnerable elderly people whose lives have become more difficult due to the recent COVID-19 crisis, leading to this agreement.

Accordingly, the Special Committee on Income-Led Growth will support policy development to activate housing pensions, and HF Corporation will strive to improve the housing pension system. They plan to establish a housing pension promotion plan jointly with BNK Financial Group and operate educational programs.

BNK Financial Group plans to operate dedicated counters at branches and assign professional counseling staff to improve accessibility and convenience for housing pension users.

Hong Jang-pyo, chairman of the Special Committee on Income-Led Growth, said, “The housing pension has established itself as a representative system for stabilizing the lives of elderly and middle-aged people with insufficient income,” and added, “Through this agreement, if more elderly and middle-aged households in the Busan, Ulsan, and Gyeongnam regions subscribe to the housing pension, it is expected to greatly help not only secure retirement life but also revitalize the local economy.”

Kim Ji-wan, chairman of BNK Financial Group, said, “We plan to utilize the branches of Busan Bank and Gyeongnam Bank, which have the most branches in the Busan, Ulsan, and Gyeongnam regions, to establish dedicated housing pension counters and promote the first document submission agency service in the banking sector.”

Lee Jeong-hwan, president of HF Corporation, emphasized, “In response to rapid aging, the corporation has lowered the housing pension subscription age to 55 and increased the pension payment amount of the preferential housing pension by up to 20% compared to the general type, faithfully fulfilling its role as a reliable protector of old age,” and added, “We plan to promote multifaceted system improvements so that more seniors can benefit from the housing pension.”

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