Background

Reverse mortgage loan was first introduced in Korea in July 2007. In the era of aging society with accelerating ratio of senior citizens amid the heightened economic downturn, the need to bolster the utilization of the loan as a way to generate cash income for elder homeowners has been in demand in the market.

In response, the Presidential Crisis Management Committee discussed the issue and decided on February 18, 2009 to pursue the stimulus initiatives for the loan.

* Please refer to the attached PDF for details.