A life-cycle type jeonse loan conversion that allows easy transfer from the Jeonse loan for youth used before marriage to the Jeonse loan exclusively for newlyweds will be introduced.


The Ministry of Land, Infrastructure and Transport announced on the 29th that it will newly introduce the life-cycle type jeonse loan conversion from the 30th to improve the convenience of using the Jeonse loan for newlyweds.


Until now, young people who used the existing Jeonse loan before marriage could only receive the Jeonse loan exclusively for newlyweds for additional jeonse funds after marriage or fully repay the existing Jeonse loan and newly use the Jeonse loan exclusively for newlyweds.


The life-cycle type jeonse loan conversion allows repayment and use of the existing Jeonse loan through application for the Jeonse loan exclusively for newlyweds when moving to a new house or renewing the jeonse contract, reducing cumbersome procedures.


In response to the COVID-19 situation, a service will also be introduced that allows users to easily receive guidance on available Jeonse loan products by entering related information on an online platform.


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This service is scheduled to be provided from the end of next month through a business agreement between Woori Bank and KakaoPay. The plan is to gradually expand the introduction to other banks handling the Housing and Urban Fund’s Jeonse loans.


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