Participants pose for a photo Wednesday at the signing ceremony for the "MOU on Creating a Housing Finance Environment for Residential Stability and Sound Household Debt Management" at the Korea Real Estate Board's Seoul office. From left: Kim Gyeong-jin, deputy president of KB Kookmin Bank; Kang Eun-suk, division head at Hana Bank; Ryu Hui-jang, credit group head at iM Bank; Kim Nam-seong, head of the housing supply support division at the Korea Real Estate Board; Kang Jeong-mi, department head at NongHyup Bank (standing in for Deputy President Park Hyun-joo); Shin Dong-hun, group head at Busan Bank; and Kwon Hyeok-sang, division head at Shinhan Bank. [Korea Real Estate Board]
Participants pose for a photo Wednesday at the signing ceremony for the "MOU on Creating a Housing Finance Environment for Residential Stability and Sound Household Debt Management" at the Korea Real Estate Board's Seoul office. From left: Kim Gyeong-jin, deputy president of KB Kookmin Bank; Kang Eun-suk, division head at Hana Bank; Ryu Hui-jang, credit group head at iM Bank; Kim Nam-seong, head of the housing supply support division at the Korea Real Estate Board; Kang Jeong-mi, department head at NongHyup Bank (standing in for Deputy President Park Hyun-joo); Shin Dong-hun, group head at Busan Bank; and Kwon Hyeok-sang, division head at Shinhan Bank. [Korea Real Estate Board]

The Korea Real Estate Board signed a "MOU on Creating a Housing Finance Environment for Residential Stability and Sound Household Debt Management" with seven Housing and Urban Fund trustee banks — KB Kookmin Bank, Woori Bank, Shinhan Bank, Hana Bank, NongHyup Bank, Busan Bank and iM Bank — at its Seoul office on Wednesday.

The MOU aims to build a cooperative framework between the Housing Ownership Management System (HOMS) and financial institutions to foster a sound housing finance environment supporting household debt management and residential stability.

Under the agreement, the participating institutions plan to pursue the successful upgrade of HOMS, technology cooperation for stable system integration, uninterrupted support for policy loans including the Housing and Urban Fund, improved efficiency in financial institutions' loan screening operations, and a public-private bridging role through a working-level consultative body.

The Korea Real Estate Board said it plans to use the occasion to strengthen communication with the seven trustee banks and will sequentially conclude a "joint agreement" establishing a public-private cooperation framework for future system operations, followed by a "detailed agreement" covering specific operational procedures.

Kim Nam-seong, head of the Korea Real Estate Board's housing supply support division, said the MOU marks "a first step toward upgrading the Housing Ownership Management System and ensuring its stable operation, and a meaningful occasion for the public and private sectors to work together to build a sound housing finance environment." He added that the board would "work to enhance the accuracy and reliability of housing ownership verification and actively support the operational efficiency of financial institutions, based on a solid cooperative framework with the trustee banks, to do our utmost for residential stability and precise policy finance support."


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