South Korea’s financial authorities decided on the 20th to issue an authoritative interpretation of the unavoidable circumstances under which borrowers with prior homeownership records can still receive first-time homebuyer mortgage benefits. The guidance will address cases such as housing shares inherited while the borrower was a minor, subscription rights linked to projects that were canceled without an actual home purchase, and applications filed after an inherited share was sold. First-time homebuyers receive LTV limits of 70% in the capital region and regulated areas, and 80% in non-regulated areas, subject to a financial institution’s credit review committee. The August 13 real estate measures left banks to make these judgments autonomously, but unclear standards and the risk of later criticism encouraged conservative decisions. Banks will submit recurring questions through the Korea Banking Association for official responses. The move comes as first-time buyer registrations for apartments, multiplex housing and officetels in Seoul reached 9,343 last month, the highest level in six years since August 2020. Separately, authorities expect limited confusion over exceptions to restrictions on Jeonse loans for speculative non-resident single-home owners because existing real-demand criteria can guide credit review committee decisions.