Jugumgong Partners with NH Nonghyup to Launch Low-Interest 'Akkim e-Bogeumjari Loan'

Seolinbae, Director of the Korea Housing Finance Corporation (left), and Nam Jaewon, Vice President of NH Nonghyup Bank, are posing for a commemorative photo after signing the agreement.

[Asia Economy Reporter Song Seung-seop] Korea Housing Finance Corporation (HF) announced on the 17th that it has signed a 'Agim e-Bogeumjari Loan Handling Business Agreement' with NH Nonghyup Bank and will launch the product from that day.

According to the corporation, the product, which was previously available only at five banks (KB Kookmin, Shinhan, Woori, Hana, and Busan Bank), will now also be available at Nonghyup Bank. Since Nonghyup Bank has the largest number of branches among domestic commercial banks, this business agreement is expected to improve customer accessibility to the Bogeumjari Loan.

The Agim e-Bogeumjari Loan offers an interest rate 0.1 percentage points lower than the existing Bogeumjari Loan product by utilizing an electronic document-based loan transaction agreement method. The loan interest rates are fixed at 2.25% (10-year maturity) to 2.50% (30-year maturity) as of this month. Socially disadvantaged groups and newlyweds can use the loan at even lower rates.

An official from the corporation stated, “Considering the situation where low-income households feel a significant burden of housing costs due to COVID-19 and other factors, we plan to expand the supply of Agim e-Bogeumjari Loans,” adding, “With this agreement, customers in rural and fishing villages who mainly use Nonghyup Bank can now conveniently access the service.”

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