HUG Offers 5% Discount on PF Loan Guarantee Fees for Early Sales of Public Housing Sites in Greater Seoul

(Seoul=Yonhap Infomax) Jo Dong-il – The Housing and Urban Guarantee Corporation (HUG) announced on the 25th that it will offer discounted guarantee fees for project financing (PF) loans to private developers who launch early sales on public housing sites in the Seoul metropolitan area.

As part of the government's September 7 housing supply expansion initiative, HUG will provide a 5% discount on PF loan guarantee fees and a 3% discount on sales guarantee fees for eligible projects.

Private developers utilizing both PF loan guarantees and sales guarantees will receive the respective discounts for each product.

The discount applies to private developers who issue a public notice for resident recruitment within 180 days of either the initial project plan approval date or the building permit date, specifically for public housing sites in the Seoul metropolitan area sold by Korea Land & Housing Corporation (LH).

The guarantee fee discount will be settled at the time of guarantee termination, taking into account the timing of guarantee issuance and other relevant factors.

Yoon Myung-kyu, Acting President of HUG, stated, "Through the early sales discount program, we will actively support the swift supply of housing in the Seoul metropolitan area," adding, "We will continue to collaborate with government ministries to support housing developers and revitalize housing supply."

diju@yna.co.kr

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