HUG Recovers 427.5 Billion Won in Bonds Last Year... Highest Performance Since Conversion to Corporation

The Housing and Urban Guarantee Corporation (HUG) achieved its highest performance since its establishment by recovering 64.9 billion KRW from malicious multi-home debtors last year.

HUG announced on the 10th that it recovered a total of 427.5 billion KRW in claims last year.

In response to the rapid increase in jeonse deposit return guarantee claims, HUG established a dedicated team last year to manage claims considering the characteristics of each debtor.

It recovered a total of 64.9 billion KRW from malicious multi-home debtors who engaged in 'gap speculation' with hundreds of houses. This is about four times the performance compared to 16.4 billion KRW in 2020.

Last year, HUG successfully sold the Wanju Iseo apartment complex and Sacheon Heunghan Erga Phase 2 refund projects through active promotion, including establishing demand-tailored sales strategies.

By promoting to construction companies in nearby areas with high purchase demand and removing legal risks such as retention rights to reduce buyers' burdens, HUG achieved a recovery of approximately 91.6 billion KRW.

Kwon Hyung-taek, President of HUG, emphasized, "HUG will strengthen financial soundness by preparing innovative measures to recover the rapidly increasing individual guarantee claims while also supporting debtors' rehabilitation."

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