Choo Kyung-ho "DSR Needs to Reflect Future Income for Young People to Buy Homes"

On the 2nd, Choo Kyung-ho, the nominee for Deputy Prime Minister and Minister of Economy and Finance, attended the confirmation hearing held at the National Assembly and put on his mask immediately after finishing his remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Sejong=Reporter Kwon Haeyoung] On the 2nd, Choo Kyung-ho, the nominee for Deputy Prime Minister and Minister of Economy and Finance, stated that "when calculating the Debt Service Ratio (DSR), measures to actively consider future income for young people to purchase their own homes should be examined."

At the confirmation hearing held at the National Assembly on the same day, nominee Choo said, "The current DSR calculation method does not sufficiently reflect future income and is operated rigidly," adding, "Real estate financial regulations need to be normalized."

However, regarding the improvement of the Loan-to-Value (LTV) ratio regulation on mortgage loans, while acknowledging the necessity, he indicated that there would be no abrupt relaxation. Nominee Choo said, "The LTV should be adjusted and responded to while monitoring the real estate market," and added, "Since the market is sensitive, such matters should be handled in an orderly and sequential manner considering those factors."

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