Korea Housing Finance Corporation Surpasses 100,000 Customers Enrolled in Housing Pension

Over 10,000 New Members Annually for 6 Consecutive Years
Continuous Efforts to Improve Systems Including Launch of Trust-Based Housing Pension and Diversification of Payment Methods

[Asia Economy Reporter Shim Nayoung]The Korea Housing Finance Corporation announced on the 19th that the cumulative number of Housing Pension subscribers has exceeded 100,000. On the 18th, HF Corporation invited Kim Heesook (age 64), the 100,000th Housing Pension subscriber, to present congratulatory money and express their gratitude. Ms. Kim, who lives in an apartment in Goyang-si, Gyeonggi-do, said, “I decided to subscribe because it can reduce the burden of supporting my children, and above all, I can live in my own home for life while receiving a monthly pension.”

Over the past six years (2016?2021), more than 10,000 people have subscribed annually to the Housing Pension, and especially in the first half of this year, 6,923 new subscribers joined, a 36.4% increase compared to the same period last year. From March to June this year, more than 1,000 people subscribed to the Housing Pension each month.

HF Corporation has continuously improved the system to strengthen the old-age life security of the elderly and expand the choices for subscribers. In the second half of this year, to expand Housing Pension subscriptions among vulnerable elderly groups, the housing price criterion for the preferential Housing Pension will be raised from under 150 million KRW to under 200 million KRW. The preferential Housing Pension is a product where one spouse is a basic pension recipient and owns a single house valued under 150 million KRW, receiving up to 20% more monthly payments than general Housing Pension subscribers.

President Choi Junwoo said, “We will continue to make efforts so that more people can use the Housing Pension to enjoy a secure old age.”