Choi Jun-woo, New President of Kookmin Housing Fund, "Supplying Products Needed by the People Timely"

Choi Jun-woo, the newly appointed President of Korea Housing Finance Corporation, attending the inauguration ceremony held on the 5th at the headquarters of Busan International Finance Center.

[Asia Economy Reporter Song Seung-seop] On the 5th, Choi Jun-woo, President of the Korea Housing Finance Corporation, held an inauguration ceremony and officially began his duties.

In his inaugural speech on the same day, President Choi stated, "As the social and economic crisis caused by COVID-19 deepens, the desire for a home will become even more earnest," and added, "We will continuously strive to supply products that the public truly needs in a timely manner."

Regarding the changed market situation due to the amendment of the Housing Lease Protection Act last August, he said, "We will respond promptly to housing demand caused by rising jeonse prices and the increase of half-jeonse," emphasizing, "We must fulfill our social responsibility by tightening the housing safety net for economically vulnerable groups, including youth, through inclusive finance."

He also mentioned the introduction of ultra-long-term bonds and the role of ESG (Environmental, Social, and Governance) bonds. President Choi explained, "We will establish the corporation's mortgage-backed securities (MBS) as bonds comparable to government bonds," and added, "In addition to monthly payments from the housing pension, we will prepare plans to generate additional income using subscribed houses and diversify linked service areas."

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