The infrastructure minister plans to reduce the number of houses that are covered by loans from Government Housing Loan Corp. by 10 percent in fiscal 2002 from the current fiscal year to around 500,000 units, ministry sources said Thursday.
The Land, Infrastructure and Transport Ministry also plans to cut the amount of extra loans to be added to basic loans by half and confine the amount of loans to high-income buyers to 50 percent of the housing prices as part of reform of the public lending organ, according to the sources.
The ministry aims to shrink the scale of loans by the quasi-governmental financial institution so it will promote cofinancing with private financial institutions, the sources said.