[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] BNK Busan Bank has been selected as the first regional bank to serve as the lead financial institution for the Housing and Urban Guarantee Corporation (HUG) 'Standard PF (Project Financing) and Post-Sale Standard PF' loans.
Starting from the 6th, Busan Bank will be responsible for 'PF' loans for various housing project developers and construction companies eligible for sales guarantees (including post-sale) and rental deposit guarantees for two years.
The 'PF' product, launched to promote mutual growth among the low-income economy, small and medium housing companies, and partner companies, offers ▲ standardized interest rates upon HUG guarantee without differentiation by project site ▲ exemption from various fees, addressing difficulties faced by the housing industry.
Son Dae-jin, Head of the Investment Finance Group at Busan Bank, said, "We participated in the selection as the lead financial institution to support stable funding for local small and medium housing developers amid an uncertain financial environment."
Son added, "Starting with the selection as the lead PF financial institution, we will do our best to coexist with local small and medium housing developers."
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