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Loan Product

Real Estate Collateral Loan

Our company provides loans to customers who can put up a real estate as collateral.
If loan amount cannot be repaid, real estate with collateral right is auctioned off through legal proceedings to collect the loan amount.
And total amount of loan is limited for other collateral rights. Thus, risk for failed collection is minimal. Time and cost incurred are quite low.
Our company’s loan periods are on a 3-month, 6-month, and 1 year basis.

Collateral Loan for Leasehold Rights for Stores and Houses

  1. A.
    Leasehold right contract for apartment, mansion, detached house, and store for collateral is provided.
  2. B.
    For leasehold right collateral loan, customer seeking the loan shall secure approval from the owner of the property and submit certified copy of the register of property, copy of the resident registration of property, land development usage letter (urban planning confirmation), appraised value confirmation land registration map, leasehold right contract, and lessee’s copy of the resident registration are submitted and 1st documentary evaluation by the Loan Evaluation Committee must be passed.
  3. C.
    Loan amount is limited from 10 million won to 1/2 of the leasehold right value.
  4. D.
    Loan period is 1 year in principle but can be extended after an overall evaluation of the borrower’s credit rating, leasehold discharge status, and changes to the leasehold property.
  5. E.
    Management of loan, leasehold discharge status, and changes to the leasehold property are checked on constantly and if loan interest repayment is delayed by more than 3 days, loan management team dispatches employees to the site to urge repayment. Interest repayment ability is investigated to determine legal measures.
  6. F.
    Stability of loan principal for leasehold right collateral loan has no problem in collection of principal as only up to 1/2 of the value of the leasehold is lent with approval from the owner of the property.

Credit Collateral Loan

Our company provides loans on a first-priority basis to customers with stable jobs such as government officials, teachers, professors, and doctors.
No real estate collateral is necessary and there are no bank regulations. Thus, this is a credit loan in its truest sense.
Also, they have social status and retirement pay is put forth as collateral so uncollected rate is very low. They have status with the highest credit.
To prepare for non-collection risk, 3rd person guarantee is required on a secondary, tertiary basis.
In the worst case, if debtor cannot repay, 3rd person guarantor must repay the debt.

Even such people of status experience bankruptcy. In such case, our company has the legal right to sequester half of the debtor’s monthly salary.
Legal employer of the debtor is obligated to pay us half of the salary until repayment is complete. Debtor can only receive half of his or her salary.

If debtor cannot repay the debt until retirement, we have the right to receive priority repayment on the debtor’s retirement pay.
Since only credit is put on collateral, loan interest rate is quite high.

Our company’s loan periods are on a 3-month, 6-month, and 1 year basis.