Korea Housing Finance Corporation (HF) reported an outstanding balance of Korean Home Pension recourse claims of KRW 126.9 billion in July 2026, about 9.6 times the KRW 13.2 billion reported for 2020. The reported recovery rate was 20.78% in July 2026, compared with 39.15% in 2020. The figures come from HF data submitted to National Assembly member Park Sung-hoon and reported by Yonhap on October 12, 2026. The July figure is a partial-year observation, not a full-year 2026 total.
What the figures show
The reported outstanding recourse-claim balance rose at each listed annual observation from 2020 through 2025, then reached KRW 126.9 billion in July 2026. The amounts below are the figures reported from HF data submitted to Park Sung-hoon; the 2026 observation runs only through July.
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| Observation date | Outstanding recourse-claim balance | Reported recovery rate |
|---|---|---|
| 2020 | KRW 13.2 billion | 39.15% |
| 2021 | KRW 16.3 billion | Not stated in the Yonhap report |
| 2022 | KRW 24.5 billion | 33.73% |
| 2023 | KRW 44.4 billion | Not stated in the Yonhap report |
| 2024 | KRW 61.6 billion | 35.27% |
| 2025 | KRW 92.5 billion | 31.19% |
| July 2026 | KRW 126.9 billion | 20.78% |
The July 2026 balance is about 9.6 times the 2020 balance. The recovery-rate observations point downward overall, but not in an uninterrupted year-by-year decline: the reported rate rose from 33.73% in 2022 to 35.27% in 2024 before falling to 31.19% in 2025 and 20.78% in July 2026. Yonhap does not specify the rate’s formula or denominator, so it should be read as the aggregate percentage reported, not as a claim-level probability of recovery.
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Korean Home Pension is a government-guaranteed reverse-mortgage program for eligible older homeowners. HF describes it as allowing borrowers to use their homes as collateral for monthly payments for life while the borrower and spouse reside in the home. See HF’s Korean Home Pension overview.
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In this reporting context, a recourse claim is an amount HF seeks to recover after making a guarantee-related payment. The Yonhap report gives aggregate claim balances and recovery-rate figures, but does not detail the legal mechanics, the makeup of claims, collection channels, or recoveries by individual case. HF’s rules and notices page provides official program-use and rules context.
Why claims rose and the recovery rate fell is not established
The reported data show a rising outstanding balance and a lower recovery rate at the latest observation, but do not explain why either changed. They include no causal breakdown or claim-level detail. They also do not establish whether enrollment, home values, heirs’ decisions, collection practices, or another factor drove the movement. The recovery-rate calculation is not specified, and the July 2026 figures are not accompanied by an explanation of their comparability with full-year observations.
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Park, a member of the National Assembly’s Political Affairs Committee, said the program is an important retirement safety net and called for risk management and claims recovery alongside stable provision. That is his policy concern, not an independent causal finding about the figures.
Policy changes and planned claims management are separate from the trend
Guarantee-fee adjustment
On February 5, 2026, the Financial Services Commission announced that the initial guarantee fee would be reduced from 1.5% to 1.0% and the period in which an eligible fee refund could be obtained extended from three years to five. These are program measures described in the Financial Services Commission announcement; the announcement does not show that the fee change caused the claims trend.
Reported plan to manage loss-making claims
A July 7, 2026 report by Seoul Economic Daily said HF planned to take over and manage loss-making claims from the following year. The report also cited a Board of Audit and Inspection estimate that subrogation-payment losses would have been KRW 9.5 billion to KRW 12.7 billion lower using 2024 figures. This is a reported plan and an estimate based on historical figures—not evidence that the change had already been implemented or that those savings had been realized.
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