[2024 National Audit] Kim Byunghwan, Financial Services Commission Chairman, "Will Control the Speed of Policy Loan Regulations"

Kim Byung-hwan, Chairman of the Financial Services Commission, expressed his stance on the future direction of policy loan regulations, stating that "the purpose will be preserved, but the implementation speed will be appropriately controlled."

At the comprehensive audit of the National Assembly's Political Affairs Committee held on the 24th, Chairman Kim acknowledged the criticism that sudden changes in policy loans aimed at stabilizing housing for the common people, such as the recent reduction of the Didimdol loan limit, could cause confusion in the housing plans of actual demanders, saying, "It was wrong not to provide a sufficient notice period."

In response to a lawmaker's question about whether the reduction of the Didimdol loan limit was discussed at the household debt inspection meeting chaired by the Financial Services Commission, he replied, "As far as I know, the measure was discussed," but added, "I understand that the timing and method were decided by the Ministry of Land, Infrastructure and Transport."

Chairman Kim stated regarding the reduction of the Didimdol loan limit, "It is not a complete withdrawal, but it will be implemented with a longer notice period and by excluding non-metropolitan areas."

When asked whether policy loan regulations would be strengthened in the future, he expressed the position that the purpose of the policy will be preserved while adjusting the implementation speed. In particular, concerning the total debt service ratio (DSR) regulation on jeonse loans, he explained, "While maintaining the basic principle of loans according to repayment ability, we will carefully review the implementation methods and timing, fully considering the impact on actual demanders."

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