Korea Housing Finance Corp. (KHFC), headed by President Seo Jong-dae, recorded a top year last year in terms of its operation since its start in 2004, despite the difficult management environment, the company reported in outlining its operational plans for this year.

The KHFC unleashed a total of 11 trillion won last year to salvage the housing loan market and ensure the soft-landing of the household debt crisis in cooperation with commercial banks, with most of the funds going to low-income families to finance the purchases of their own homes with low-interest rate housing loans called, “Nesting Place Loan.”

The company has decided to make this year the initial year for securing its position as an expert on housing loans for low-income families. To achieve this goal, the company will continue to improve its Nesting Place Loan product so that the poor families will be able to buy their own homes with low-interest housing loans.

The financial company also plans to touch up its guarantee money for long-term rental guarantees to make them more suitable for the end users as well as easing the terms for participation in the housing purchase installment savings down to 60 years of age for both husbands and wives if they already own a house or houses. The company also plans to introduce short-term small new financial products.

The company also plans to boost long-term fixed interest loans to ease the pressure on household debts totaling 1,000 trillion won by improving their quality and make the domestic housing financial market an advanced one.

Officials of the company said they have been able to build a network of cooperation with commercial banks to the extent that those who really need a home can borrow money easily. This year they will work on the improvement of the early repayment charge fee system and expand the weight of non-marginal type housing mortgage loan.

The company will issue non-covered bonds overseas to secure more funds for its financial products, especially those aimed at low-income families.

The company also plans to upgrade its risk management by strengthening its early warning system including the remodeling of its credit analysis system for individuals and the introduction of a fraud prevention system for long-term rental guarantee money to cope with changes in the business environment.

The company will also strengthen its social service system to do its duty in full as a public company by reforming its management system to a level satisfactory to the public.

The company will also work on its plan to expand its support to the “HF House of Love,” a social service project to help youths and senior citizens living alone to repair their homes with every officer and staff of the company lending their hands to the project.