Over 100,000 Enrolled in Housing Pension... More Than 10,000 Customers Annually for 6 Consecutive Years

Launch of Trust-Type Housing Pension, Improvement in Diversification of Payment Methods

Choi Jun-woo, President of the Korea Housing Finance Corporation (right), is presenting a congratulatory gift to Kim Hee-sook, the 100,000th subscriber to the Housing Pension, at the WISE Tower on Sejong-daero, Seoul, on the 18th.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The cumulative number of subscribers to the Housing Pension has surpassed 100,000.

Korea Housing Finance Corporation (HF) announced on the 19th that it held a celebration event on the 18th by inviting the 100,000th subscriber.

The Housing Pension is a financial product guaranteed by the government that allows seniors aged 55 and older to pledge their owned homes as collateral and receive stable monthly retirement funds for life or a certain period.

HF Corporation invited Kim Hee-sook (64 years old), the 100,000th subscriber to the Housing Pension, to express gratitude along with a congratulatory gift.

Ms. Kim, who lives in an apartment in Goyang-si, Gyeonggi-do, said, “I decided to subscribe because it can reduce the burden of supporting my children, and above all, I can live in my own home for life while receiving a monthly pension.”

Over the past six years from 2016 to 2021, more than 10,000 people subscribed annually to the Housing Pension, and in the first half of this year, new subscribers reached 6,923, a 36.4% increase compared to the same period last year. From March to June this year, more than 1,000 people subscribed to the Housing Pension each month.

HF Corporation has continuously strengthened the retirement security of seniors and expanded subscribers’ choices through ongoing system improvements. In the second half of this year, to expand Housing Pension subscriptions among vulnerable elderly groups, the housing price criterion for the preferential Housing Pension will be raised from under 150 million KRW to under 200 million KRW.

The preferential Housing Pension is a product where one spouse is a basic pension recipient and owns a single home valued under 150 million KRW, allowing them to receive up to 20% more monthly payments than general Housing Pension subscribers.

President Choi Jun-woo said, “We will continue to strive so that more people can use the Housing Pension to enjoy a secure retirement life.”

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