Page 247 - 2019 6th AFIS & ASMMA

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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