"We will build a tight, seamless guarantee system to swiftly support the Lee Jae-myung administration's housing supply," said Choi In-ho, president of the Korea Housing & Urban Guarantee Corporation (HUG).
Speaking at a press conference marking his 100th day in office, held Monday near the Sejong Government Complex, Choi said, "HUG is expanding its business scope beyond guarantee functions to become an institution that directly supplies quality rental housing through Deundeun Jeonse Housing and rental REITs." He pledged to supply 3,000 rental housing units this year, roughly double last year's figure.
"We will strengthen public services by providing market prices for non-apartment properties, which have been in an information blind spot, along with three new data services including HUG-certified premium jeonse listings and a 3D residential construction digital viewer," Choi said.
"For villas, multi-household homes, and row houses where reliable market prices are hard to confirm, we will combine the corporation's appraisal data to calculate appropriate prices by construction year and visualize them on a map, launching the 'HUG Safe Villa Market Price' service," he said. The service aims to prevent jeonse fraud damage. HUG also plans to unveil 'HUG Certified Premium Jeonse,' which will grant certification marks to low-risk listings priced below regional averages by matching market prices, average deposit amounts, and senior creditor claims in real time. HUG will also provide a service that renders buildings under construction in 3D graphics, allowing real-time monitoring of progress by framework and process. The corporation plans to link this data with Zigbang and Naver Real Estate via open APIs and pursue its designation as state-approved statistics.
Choi also previewed four new products to be launched within the year. The first is a guarantee product for relocation cost contributions related to housing regeneration. "The Housing Regeneration Core District project creates regional hubs in residential areas within declining downtowns, but guarantee support was absent because it falls under the Urban Regeneration Act," he said, explaining the rationale. About 4,000 units across four innovation districts in Anyang, Incheon, Daejeon, and Namyangju are expected to benefit.
A guarantee product for public renovation project loans will also be introduced. With 45 LH public redevelopment and reconstruction sites and three first-generation new towns as key targets, HUG guarantees are expected to accelerate the supply of 92,000 housing units.
"We will protect occupancy deposits by establishing dedicated products for senior welfare housing, which falls in a blind spot of guarantees under the Private Rental Housing Act," Choi said. HUG also plans to support funding by guaranteeing principal and interest repayment for trust companies facing liquidity constraints due to unsold housing backlogs in regional areas, through the securitization of trust cost reimbursement claims.
