Business · Economy · 1 hr ago
South Korea’s housing pension sign-up rate is forecast to top 2%
South Korea’s housing pension pays eligible homeowners monthly for life in return for using their home as security.
By August, 162,498 people had joined, and the sign-up rate is forecast to reach about 2.1% of eligible households this year, the first time it would top 2% since the scheme began in 2007.
The rate remains low compared with the United States, where it is 3.8%.
Many older people do not know how the scheme works, while others hesitate because they expect home prices to rise or want to leave a home to their children.
The Korea Housing Finance Corporation says that after the homeowner dies and the account is settled, any rise in the home’s value goes to the heirs.
Experts say the scheme may need changes, such as adjusting payments more flexibly to home-price changes and making monthly amounts more realistic.
The scheme is open to couples if one partner is at least 55 and their homes have a combined official value of no more than 1.2 billion won; lawmakers have called for higher payments and more benefits to encourage take-up.
South Korea’s housing pension sign-up rate is forecast to exceed 2% for the first time since the program began in 2007.
By August, 162,498 people had joined the program, according to data provided to lawmaker Han Min-soo.
The estimated rate uses 7.73 million eligible households from last year as its denominator.
The article cites limited awareness, concerns about future home-price rises and the wish to leave a home to children as reasons for low uptake.
Experts say the program may need changes to reflect home-price movements more flexibly and make monthly payments more realistic.
- Who
- Eligible older homeowners in South Korea can join the housing pension.
- What
- The sign-up rate is forecast to top 2% for the first time. By August, cumulative enrolment stood at 162,498.
- When
- The forecast was reported on October 15, 2026; the enrolment figure is through August.
- Where
- South Korea.
- Why
- The rate is forecast to rise as new sign-ups increase. The article says uptake remains low partly because of limited awareness and concerns about home prices and inheritance.
This story does not have two clearly opposing sides.
South Korea’s housing pension program began.
Cumulative enrolment reached 162,498, according to figures cited in the article.
Maeil Business reported that the sign-up rate was forecast to exceed 2% for the first time.
- Cumulative enrolment
- 162,498 through August
- Estimated sign-up rate
- About 2.1%, based on 7.73 million eligible households from the previous year
- US sign-up rate cited for comparison
- 3.8%
- Minimum age
- One member of the couple must be at least 55
- Home-price eligibility limit
- Combined official price of the couple’s homes must be no more than 1.2 billion won
What people are saying
주택연금은 고령층의 주거 안정과 노후 빈곤을 동시에 해결할 수 있는 핵심 복지 안전망
집값 변동이나 상속에 대한 오해로 가입을 망설이지 않도록 수령액을 현실화하고 실질적인 혜택을 늘려 문턱을 더 낮춰야 한다
사망 후 정산 시 집값 상승분이 유족에게 상속되는데, 이 부분에 대한 인지가 부족하고 전반적인 상품 제도에 관한 오해