South Korea’s future-income mortgage system sees single-digit uptake at four of five major banks
AI Summary- South Korea’s five major banks reported limited use of future income recognition for young mortgage borrowers.
- Shinhan Bank recorded application rates of 11.32% for borrowers in their 20s and 16.39% for those in their 30s.
- Banks must now notify non-homeowner applicants about eligibility and resulting mortgage limits.