Strict Housing Ownership Checks to Be Enforced: Korea Real Estate Board Signs MOU with 7 Financial Institutions

The Korea Real Estate Board announced today (July 29) that it signed a business agreement at its Seoul office in Yeoksam-dong, Gangnam-gu, Seoul, with seven National Housing Fund consignment banks—KB Kookmin Bank, Ourri Bank, Shinhan Bank, Hana Bank, NH Nonghyup Bank, Busan Bank, and iM Bank—to "create a housing finance environment for residential stability and sound household debt management."

This business agreement was carried out to enhance the efficiency of household debt management by establishing an organic cooperative system between the government's Housing Ownership Management System (HOMS) and financial institutions.

By upgrading the Housing Ownership Management System, commercial banks will link with the system during loan screening processes to thoroughly verify whether loan applicants own homes.

Kim Nam-sung, head of the Housing Supply Support Division at the Korea Real Estate Board, said, "This business agreement is the first step toward upgrading and stably operating the Housing Ownership Management System," adding, "We will create a sound housing finance environment through public-private cooperation."

(Photo: Provided by Korea Real Estate Board, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.