Deposit limit for housing subscription savings accounts raised for the first time in 41 years… What is the background? [Anchor Report]

[‘The housing subscription passbook, considered essential for buying a house.’,
,
, ‘If you are someone who diligently saves money every month, please pay attention to this news.’,
,
, ‘Let’s look at it together on the screen.’,
,
, ‘The Ministry of Land, Infrastructure and Transport has announced follow-up regulatory improvements to revitalize housing supply and alleviate housing inconveniences after a public hearing.’,
,
, ‘First, it was decided to significantly increase the monthly contribution amount for the subscription passbook.’,
,
, ‘Until now, the recognized monthly contribution amount for selecting public housing lottery winners was up to 100,000 won per month, but it will now be increased to 250,000 won per month.’,
,
, ‘Considering that public housing lottery winners are selected based on the total amount saved in the subscription passbook, this change aims to allow individuals to reach the winning line faster than before.’,
,
, ‘But that’s not all.’,
,
, ‘It has also been decided to allow the conversion of housing savings funds, housing savings deposits, and housing savings accounts, which have been suspended for new registrations since September 2015, into comprehensive housing savings for housing subscriptions.’,
,
, ‘Now, with one account, you can subscribe to both public and private housing lotteries. However, in the past, those who deposited into housing savings accounts could not apply for public housing lotteries, and vice versa, leading to the frustration of those dreaming of owning a home.’,
,
, ‘However, from now on, individuals who have housing savings fund, deposits, and accounts can terminate their accounts and re-register them in a housing subscription passbook while acknowledging their previous payment records.’,
,
, ‘However, only the new payments can be recognized as records for those who have newly increased opportunities.’,
,
, ‘For example, let’s take a look.’,
,
, ‘If someone who has been depositing into a housing savings account for public housing for 20 years transitions to a comprehensive housing savings for private housing lotteries, the new payments will be counted as the first installment.’,
,
, ‘Some may say, “Isn\’t this without any real benefit?” However, the government’s judgment is that being able to deposit into private housing, which was previously not even an option, is advantageous.’,
,
, ‘So, what is the background for the government raising the monthly recognized contribution amount and encouraging transitions to comprehensive housing savings?’,
,
, ‘It is not only to alleviate unnecessary regulations but also not unrelated to the trend of shrinking the housing fund.’,
,
, ‘As the amount saved in the housing subscription passbooks decreases due to a decrease in subscribers, the surplus funds used as a major source of housing fund have also sharply declined by over 35 trillion won in just over two years.’,
,
, ‘In addition, the burden of needing funds for supporting real estate PF stabilization or special loans for newborns that places reliance on the fund has increased rapidly.’,
,
, ‘Meanwhile, the government plans to start revising housing supply regulations and undertaking a banking network overhaul aiming for implementation as early as September.’,
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