[2021 National Audit] Choi Jun-woo, President of Korea Housing Finance Corporation, "Promptly Raise the Deposit Limit for Jeonse Loan Guarantees"

Choi Jun-woo, President of Korea Housing Finance Corporation, attended the National Assembly's inspection on the Deposit Insurance Corporation and others held by the National Assembly's Political Affairs Committee on the 18th, providing a business report. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Song Seung-seop] Choi Jun-woo, President of the Korea Housing Finance Corporation, mentioned that the deposit limit for jeonse loans will be expanded promptly.

On the 18th, Choi, who appeared before the National Assembly's Political Affairs Committee, said, "It was planned to be implemented in the third quarter, but it was delayed due to the development of the computer system and consultations with financial institutions," adding, "We will make every effort to implement it as soon as possible."

Choi's remarks were in response to a question from Park Yong-jin, a member of the Democratic Party of Korea, who pointed out, "The measure to raise the jeonse loan guarantee was announced in May, but it has not yet been implemented."

The Korea Housing Finance Corporation announced last May that it would raise the jeonse loan deposit limit from 500 million won to 700 million won in the metropolitan area. The limit for non-metropolitan areas was also planned to be raised from 300 million won to 500 million won, but it has not yet been implemented.

Lawmaker Park criticized, "It is a 'Hamheungchasa' system that was announced last May and even pre-notified in August, but still not implemented," and added, "If the delay in implementation has caused disappointment and confusion among ordinary citizens, an apology is appropriate."

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