Lee Sung-hoon, president of South Korea's Korea Land & Housing Corporation (LH), said the 600 million won mortgage cap for homes priced at 1.5 billion won or less should be lowered to restrain purchase demand and price increases while new housing supply takes effect. The proposal has raised concerns that first-time buyers in their 20s and 30s could lose access to the housing market, as they rely more heavily on borrowing and already face mortgage caps and income-based debt-service screening. Buyers in their 30s financed 40.1% of 39.5984 trillion won spent on homes in Seoul between Feb. 10 and the end of July, compared with 25.1% for buyers in their 40s and 14.5% for those in their 50s. Seoul apartment sale prices rose for an 86th consecutive week in the fourth week of September, surpassing the longest streak recorded under the Moon Jae-in administration. Under current rules, a first-time buyer purchasing a 1 billion won home in the greater Seoul area or a regulated zone can qualify for up to 70% loan-to-value financing, but the mortgage cap limits borrowing to 600 million won. Lee acknowledged that further restrictions could disrupt young buyers' plans, while arguing that unchecked lending could push prices higher and make the housing ladder less accessible. He also said employer-backed loans, including Samsung Electronics' employee loans of up to 500 million won at an annual rate of 1.5%, should be examined.