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Finance

Non-apartment support raises questions over effectiveness of youth future Bogeumjari loan

South Korea has rolled out an annual 3 trillion won Youth Future Bogeumjari Loan to help young people buy their first home, but the response has been muted because its added benefits apply only to non-apartment housing. The product, due to launch in January, offers up to 80 percent LTV for eligible borrowers buying non-apartments priced at 400 million won or less. Experts say the scope may be too narrow and call for broader support.

Finance

Loan \'open run\' pushes household loan cap to double, expanding banks\' lending room to around 60 trillion won

South Korea has sharply eased its policy of managing the total volume of household loans after six months, doubling this year’s household loan growth target to 3 percent from 1.5 percent. The change is expected to expand the financial sector’s annual room to increase lending to around 60 trillion won from about 30 trillion won. Authorities said the move aims to ease disruptions for real demand borrowers after banks restricted loan applications to meet annual caps.

Finance

South Korea raises household loan growth target to 3 percent, expands housing supply finance to 47.8 trillion won plus alpha

South Korea\'s financial authorities will raise this year\'s target for the growth rate of total household loans to around 3 percent from 1.5 percent. They will expand financial support for housing supply to 47.8 trillion won plus alpha from 26.3 trillion won. The authorities will keep the basic framework of real estate lending curbs, including LTV and DSR limits, while tightening some rules on jeonse loans from January.