Kim Byung-hwan, chairman of the Financial Services Commission, explained that the suspension of the Korea Housing & Urban Guarantee Corporation and HUG's capital expansion schedule has nothing to do with policy loan management.
Chairman of the states Affairs Commission Kim drew the line today (30th), referring to some reports that the Financial Services Commission has put a brake on HUG capital expansion as it could signal the expansion of policy loans.
In particular, most of the policy loans, including stepping-stone loans, come from the Housing and Urban Fund, stressing that they have nothing to do with the new capital securities that HUG is trying to issue this time.
He also explained that HUG's capital expansion is a measure of improving financial soundness and indirectly affecting the size of guarantees.
He also said it is the first time that HUG has issued new capital securities, and that since it is conducted in a public offering method, sufficient consultation with financial authorities is needed in the process of submitting securities reports.
Regarding the controversy over the policy mismatch with the Ministry of Land, Infrastructure and Transport, they said they shared the recognition that the rate of increase in policy loans needs to be controlled in connection with the overall situation of household debt.
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