Page 246 - 2019 6th AFIS & ASMMA
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AFIS Opening Remarks                                                                      venue to exchange experience and knowledge to solidify and nurture
                                                                                                      the stable secondary mortgage market in the region. Korea Housing
                                                                                                      Finance Corporation became a member of the ASMMA in 2015 and has     Ceremony  Opening
                                                                                                      participated in the AFIS every year to promote exchanges with other
                                                            Jung Hwan Lee                             housing finance organizations. I hope that the 6th Summit we are hosting
                                       Chairman, President & CEO, Korea Housing Finance Corporation   today will be a good opportunity to enhance regional cooperation all
                                                                                                      along the journey.


               Good morning, ladies and gentlemen, I am Jung Hwan Lee, Chairman                         Distinguished guests, Korea Housing Finance Corporation, which was
            and CEO of Korea Housing Finance Corporation. It is my great honor to                     established in 2004, has been seeking qualitative and quantitative growth
            host the 6th Asian Fixed Income Summit. I am so pleased to meet with                      of the domestic mortgage finance market under rapidly changing social
            ASMMA members, renowned experts on the fixed income market from                           and economic conditions. We have contributed to quality improvements
            home and abroad, and participants from international organizations.                       in the structure of the Korean mortgage market, and expanded the access
                                                                                                      to home-ownership by supplying long-term, fixed rate, and amortized
               My special thanks go to Mr. Keo-don Oh, Mayor of Busan Metro-                          mortgages.
            politan city, Mr. Sungho Lee, Standing Commissioner of the Financial
            Services Commission, who will deliver congratulatory remarks on our                         KHFC has issued mortgage-backed securities worth over 260 trillion
            events. And I also extend my appreciation to Mr. Chang-yong Moon,                         won, or 216 billion US dollars, to secure the constant supply of mortgage
            Chairman and CEO of Korea Asset Management Corporation, Mr. Ji-                           loans. And it has contributed to the promotion of long-term bond market
            wan Kim, Chairman and CEO of BNK Financial Group who share                                by providing new means of asset management to institutional investors.
            their valuable time here today. Let me also acknowledge and thank our                     Outstanding MBS is 117 trillion won, which accounts for 6% of the total
            keynote speaker,   Mr. Luca Bertalot, presenters, and panelists who                       bond market. Our MBS is the third biggest bond in Korea, only after the
            will share their knowledge and insights on the international secondary                    Korea government bond and monetary stabilization bond.
            mortgage market and issues facing the housing finance market.
                                                                                                        We introduced a reverse mortgage program, we call it house pension,
               AFIS was officially established in 2014 with 6 countries in Asia to                    in 2007 to respond to rapidly aging population and to solidify ourselves
            enhance the competitiveness of the regional bond and capital market,                      as a strong shelter to secure income sources to elderly people for happy
            and advance housing finance policies. The journey began in Malaysia,                      post-retirement years.
            continued onward through the Philippines and Thailand, and evolved
            into a body consisting of 8 organizations, taking a trajectory for the                      The recent global economic recession, the polarization of Korea’s
            development and advances of respective housing finance market.                            housing finance, and aging population will eventually come down to
                                                                                                      questions of the stable supply of mortgage funds to realize housing
               In particular, for the past 10 years, after the US sub-prime mortgage                  welfare. Affordable Housing and the right to adequate housing are
            crisis prompted the global recession, the Summit has served as a                          embodied in the Universal Declaration of Human Rights by the United



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