NH NongHyup Bank said on April 17 it will launch a “local settlement finance package” from the end of this month for regions outside the Seoul metropolitan area to support local economic revitalisation and balanced national development.
The package will run through end-2026 with a total cap of 1 trillion won for new mortgage loan customers in non-capital regions. A preferential rate discount of 0.2 percentage points will be introduced. The bank will waive early repayment fees in full and cover stamp duty in full.
It also plans to raise branch-level approval limits for jeonse loans outside the capital region to streamline approval procedures and speed up funding.
NH NongHyup Bank plans to use its nationwide branch network and financial data on non-capital regions to reduce local residents’ financial cost burdens and contribute to improving conditions for local settlement.
Kang Tae-young (강태영), head of NH NongHyup Bank, said, “The key to balanced regional development is creating stable settlement conditions.” He said, “We will contribute to restoring vitality in local communities by reducing financial costs.”
Ji-young Lee
ljy@d-today.co.kr