President Lee Jeong-hwan speaks at the 15th anniversary ceremony of Korea Housing Finance Corp. on Feb. 28 at the Busan International Finance Center in Busan. (Photos: HF)

In his congratulatory speech on the occasion of the company’s 15th anniversary, President Lee Jeong-hwan of Korea Housing Finance Corp. urged the financial institution to take care of more people to make a better society. The ceremony was held on Feb. 28 at the Busan International Finance Center in Busan.

He said the reform of housing finance should be made in two ways, one for the benefit of customers convenience and the other for improving financial service. He said therefore he will work hard to develop the inclusive financial policies and strengthen their official function.

Saying that the divide between the haves and have nots has been widening as financial burdens grow, he pledged to work to bring about stable housing conditions.

President Lee said he will continue to keep a stable policy for mortgages and strengthen financial support by expanding the cooperative guarantees by the autonomous regional organizations and the financial institutions.

The HF CEO also said he will see that the housing pension grow to be a bridgehead for the social welfare guarantee system. He urged officials and staff of HF to go out and look for people to provide financial services to and think about the company’s future.

They should work hard to remove “dead angle” areas in the financial service and be ready to preemptively tackle the diversifying financial needs of consumers.

On the company’s achievements, he said housing finance provided a total of 23 trillion won in policy mortgages to help relieve the people, especially economically displaced ones, of the problems they might have from housing debt control measures. Funds are made available to them through all kinds of systems and the release of new financial commodities.

The company also provided 45 trillion won in housing credit guarantees issued by both individuals and institutions, exceeding the target in 2018.

The CEO said the subscribers for the housing pension now exceeded 10,000 in 2018 to bring total to around 60,000, making the system the representative one that guarantees the retirement lives for the senior citizens around the country.

Korea Housing Finance Corporation provides housing finance in Korea.

It offers long-term mortgage loans; housing guarantees for individuals, such as guarantees for rental, installments, and home purchases; housing guarantees for home builders, including project finance and construction loan guarantees; and reverse mortgages for senior citizens.

The company also issues mortgage-backed securities and student loan-backed securities using mortgage and student loans transferred from financial institutions as the underlying assets, and sells them to investors to raise capital from the bond market. Korea Housing Finance Corporation was founded in 2004 and is based in Seoul, South Korea.

Korea Housing Finance Corporation provides housing finance in Korea. It offers long-term mortgage loans; housing guarantees for individuals, such as guarantees for rental, installments, and home purchases; housing guarantees for home builders, including project finance and construction loan guarantees; and reverse mortgages for senior citizens.

The company also issues mortgage-backed securities and student loan-backed securities using mortgage and student loans transferred from financial institutions as the underlying assets, and sells them to investors to raise capital from the bond market. Korea Housing Finance Corporation was founded in 2004 and is based in Seoul, South Korea. Korea Housing Finance Corporation operates as a subsidiary of Ministry of Strategy and Finance.