Korean and foreign experts pose while attending the 7th International Forum on Housing and Urban Finance (IFHUF) held at Yeouido Conrad Hotel in Seoul on Dec. 12. (Photo: HUG)

“The Role of Urban Housing Finance for Expanding Comprehensive Housing Welfare,” was the subject of the 7th International Urban Housing Finance Forum held at Yeouido Conrad Hotel in Seoul on Dec. 12.

International scholars gathered at the forum to share their experience on social integration housing supply and finance.

They also discussed finance for urban renewal in cooperation with the government and civilian sectors.
In the First Section of the event, the list of those who made announcements included Vice Minister Mohamed Bin Mentec of KPKT of Malaysia, who spoke on Malaysia’s housing policy for the supply of affordable residents. He introduced the country’s housing policies and shared his government’s experience in promoting housing policies.

Professor Kim Kyung-min of Seoul National University spoke on the subject of housing problems for youth and an expansion of the role of the social corporations. He discussed where housing problems for youths lie, and suggested methods to supply homes thru the social corporations.

Director Natalia Rogaczewska of BL, Denmark, explained her country’s socialistic housing policies and what they mean in the country’s housing policies.

Professor Gary Painter of U. of Southern Calif., as the master of discussion, Alven Lam, Head director of Ginne Mae, Director Ngo The Bin of the Institute of Construction Economics of Vietnam, and Professor Lee Sang-young of Myongji University participated in the event as panelists.

In the Second Section, the main subject was the city revival and finance provided by in cooperation of official and civilian sectors.

The first speaker was Vice Mayor Andreas Sonstrom of Malmoe City, Sweden, noted for the city’s successful city revival policies. He explained the city’s experience in detail with a suggestion for policies for successful city revival.

Professor Derek Hyler of American University explained the systems for city revival in the United States, suggesting the means for social integral development.

Professor Jennie Birch of Pennsylvania University spoke about urban revival in the U.S. by highlighting successful examples with a focus on the current status of the policies.

Mike Forster, Wilson Center COO, and Chae Kwang Lee, Korea Housing and Urban Guarantee Corporation (HUG) CEO, signed an agreement in a ceremony at the Wilson Center on August 16, 2018, to launch a joint research initiative on urban revitalization in the U.S. and Korea.

Representatives from Korea’s Ministry of Land, Infrastructure and Transportation (MOLIT), HUG and the Korean Embassy joined with urban and finance experts from Ginnie Mae, the Wilson Center’s Urban Sustainability Laboratory, George Washington University and the University of Pennsylvania.

The meeting marked the third year of Wilson Center-HUG collaboration and research on innovative policies and practice to advance sustainable and inclusive urban development, affordable housing, and residential stability in a rapidly changing global economy.

Upcoming research will explore case studies of urban regeneration projects, detailing the partnerships and financing tools that contribute to success.

Research findings will be presented in 2019 at policy seminars in Washington, DC and Seoul.

As a leader in housing and urban finance and the backbone for stable housing for ordinary citizens, HUG has strategically performed social contribution activities supporting the residential welfare and urban regeneration.

Its efforts for non-homeowners include running various rent grant programs, sponsoring the Habitat ‘Building Homes and Hope’ program, etc. which have enhanced the housing welfare of a total of 4500 households.

In addition, HUG is striving to make cities more livable through its Crime Prevention through Environmental Design (CPTED) Program and Slate Roof Renovation Program for Old Houses.

HUG also extends its helping hand to underprivileged people including multi-cultural families and local school graduates spreading the value of sharing in society.