Special Bogeumjari Loan Application reaches KRW 35.4 trn in Aug.

The Korea Housing Finance Corporation(HF, CEO Choi Joon Woo) announced on September 7 that the number of valid application for the Special Bogeumjari Loan recorded about 149,000 cases, which amounts to KRW 35.4 trillion, as of August 31.

HF said, “The valid application showed a slight increase as the fall is a favored season for movement and borrowers opted to take out the loans before the rate increase.  However, the demand for the general type is on the gradual decrease since the rate hike in August 11.”

The interest rate for the Special Bogeumjari Loan is to increase by 0.25%p and 0.2%p for general and preferential type respectively from September 7. To be noted, the victims of Jeonse fraud are applied with the same interest rate.