HUG Achieves 'Highest Corporate Credit Rating AAA' for 11 Consecutive Years

[Asia Economy Reporter Ryu Tae-min] The Housing and Urban Guarantee Corporation (HUG) announced on the 23rd that it received the highest corporate credit rating (ICR) of AAA from Korea Ratings Corporation.

Since 2012, HUG has consecutively obtained the highest corporate credit rating of AAA for 11 years from the three major domestic credit rating agencies (Korea Ratings, Korea Investors Service, NICE Investors Service). As a public enterprise based on the Housing and Urban Fund Act, HUG has been recognized for its financial soundness and external credibility by stably performing its role as a specialized institution for housing finance and guarantees, as well as the dedicated management institution for the Housing and Urban Fund.

In this evaluation, HUG received high marks in terms of the importance of its business and capital adequacy through its support work for stabilizing housing for low-income households in the housing-related guarantee market, including jeonse deposit return guarantees and pre-sale guarantees.

Kwon Hyung-taek, President of HUG, stated, “As fluctuations in the real estate market are expected to increase in the future, we will provide various financial services to improve the public’s housing welfare by realizing a stable financial structure based on thorough risk management.”

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