Naver Financial to Fully Launch Real Estate Loan Brokerage Service Next Year

[Asia Economy Reporter Eunju Lee] Naver Financial will officially launch its real estate loan brokerage service starting next year. This is an additional blueprint for its MyData service utilizing real estate information. With Park Sang-jin, CEO of Naver Financial, declaring the goal to expand the monthly active users (MAU) of the MyData service to 10 million by 2025, attention is focused on whether Naver Financial can establish a differentiated MyData service.

According to Naver Financial on the 23rd, the company will begin its real estate loan brokerage service next year. This service will display available loan products from banks alongside property listings searched through Naver Real Estate. The brokerage products will also include "jeonse loan products." Kim Ji-sik, Vice President of Naver Financial, explained at the Credit Information Service’s "Financial Data Conference 2022" on the 21st, “Users can check property prices through Naver Real Estate, and for those properties, they can verify whether jeonse or monthly rent loans are available, and if so, check the loan limits and interest rates of the applicable financial products.”

Naver Financial believes it can leverage the brokerage power of the Naver Real Estate service to strengthen its loan comparison service competitiveness. Naver has been providing users with access to property price information while operating its real estate service, and by adding personalized loan information combined with individual financial data, it aims to maximize convenience. Naver Financial cites the uniqueness of its data holdings, such as real estate and automobiles, as a competitive advantage over other MyData operators, and plans to actively utilize this to enhance its competitiveness in personalized financial product brokerage.

Earlier, Park Sang-jin, CEO of Naver Financial, announced at a press briefing in June the plan to expand the MyData service’s monthly active users (MAU) to 10 million by 2025, and has since been continuously launching personalized financial services. In October, the company launched a "business loan comparison service" and also announced plans to launch a personal credit loan comparison service within the year. With financial authorities permitting brokerage of deposit products, Naver Financial plans to offer an online deposit product comparison service starting next year. CEO Park stated in June, “Connecting various services within the Naver ecosystem to MyData is the core.”