HF and Yeungnam University Language Center Simplify Complex Housing Finance Terms

HF Simplifies Public Language
Making Housing Finance Terms Easier to Understand

Korea Housing Finance Corporation (HF, President Choi Junwoo) has collaborated with the Korean Language and Culture Center at Yeungnam University (Director Choi Dongjoo) to carry out the "HF Public Language Refinement" initiative, which aims to replace difficult terms with simpler language.

Public language refers to the language used in documents and materials produced by public institutions for the public interest and provided to citizens.

HF and the Korean Language and Culture Center at Yeungnam University have worked to make policy finance products more accessible to the public by: expressing complex housing finance terms in simpler language, providing alternatives to foreign words and Sino-Korean terms, and improving discriminatory or authoritative expressions.

Going forward, HF plans to replace Sino-Korean terms such as "chaju" (borrower) and "jeori" (low interest rate) with simpler phrases like "borrower" and "low interest rate." Frequently used housing finance terms such as "bunhal sanghwan" (installment repayment) and "daeui byeonjegeum-aek" (subrogated repayment amount) will also be explained in easier language, such as "repaying in installments" and "amount repaid on behalf."

An HF official stated, "We undertook this initiative to ensure that citizens do not miss out on using our policy finance products simply because they do not understand the terms," and added, "We plan to use refined language in product guides and on our website so that customers can easily understand the information."