Ministry of Land, Infrastructure and Transport "Reducing the limit on loans for stepping stones, excluding non-metropolitan areas"

The government, which has reserved the reduction of the stepping-stone loan limit due to strong opposition from end-users, will push for supplementary measures to ease loan regulations on stepping-stone loans in non-metropolitan areas.

The Ministry of Land, Infrastructure and Transport said it will provide stepping stone loans to ordinary people in real demand without a hitch, while managing household debt in a stable manner so that there is no burden on household debt management.

The Ministry of Land, Infrastructure and Transport plans not to apply a reduction measure to the current stepping stone loan application.

It also added that even if the stepping stone loan supplement plan is implemented, an appropriate grace period will be given to minimize consumer inconvenience.

As the housing market situation varies by region, subject, and housing type, customized improvement measures, including the exclusion of non-metropolitan areas, will be announced as soon as possible.

Earlier on the 21st, the Ministry of Land, Infrastructure and Transport pushed for measures such as lowering the ratio of mortgage loans for the "first time in life" of stepping-stone loans and the LTV standard to 70%, but decided to temporarily suspend the regulation on the 18th as confusion grew around end-users.

Stepping stone loans are a representative low-income policy financial product that allows homeless people with an annual income of 60 million won or less to receive loans of up to 250 million won for homes with a housing value of 500 million won or less.