SH Corporation Joins Hope Agit Social Deposit... Supports Empty House Project

[Asia Economy Reporter Onyu Lim] Seoul Housing and Communities Corporation (SH Corporation) announced on the 29th that it will participate in recruiting citizens to subscribe to the Hope Agit 'Social Deposit' product.

The Hope Agit Social Deposit is a financial product where citizens deposit money, which is then used as rental deposits for Seoul's vacant house project 'Termuniin Hope Agit,' and the principal and interest are returned after 3 or 5 years. It is a socially value-oriented product developed through collaboration among three organizations: SH Corporation, the Social Investment Support Foundation, and Buk Seoul Credit Union.

The subscription amount is at least 1 million KRW (with the option of 3-month installment deposits), and the deposit interest rate can be chosen from zero interest to 1% per annum. However, due to the deposit operation method where the Social Investment Support Foundation borrows from Buk Seoul Credit Union, the entire deposit is pledged as collateral, making early termination impossible.

Existing citizen investors are mostly in their 40s to 50s, with investment amounts ranging from as little as 1 million KRW to as much as 30 million KRW. Investors have stated, "As a parent and a member of the older generation, I invested out of a sense of apology," and "I participated because the Termuniin House, where young people find a home they want to live in themselves without having to prove poverty, seemed fresh."

SH Corporation started an internal campaign on the 12th to promote this social deposit product. Since employees of the corporation can also subscribe as citizens, a campaign encouraging voluntary participation is underway.

Kim Seyong, President of SH Corporation, said, "I think it is very meaningful that a deposit product has been launched to realize the social value of 'together' as well as the continuous supply of Termuniin Hope Agit, the representative brand of our corporation's vacant house project," adding, "We hope for much interest and participation from citizens in the Hope Agit Social Deposit, and SH Corporation employees will actively join as well."

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