material photo” alt=”A field in the area of Gwarim-dong, Siheung-si, the planned site for the 3rd new city. A field in the area of Gwarim-dong, Siheung-si, the planned site for the 3rd new city. <한겨레> Material photo
It was argued that the average total debt repayment ratio (DSR) of the employees of Korea Land and Housing Corporation (LH·LH), who are suspected of purchasing farmland in Siheung City, Gyeonggi Province, for speculation purposes, reached 81%. Attorneys’ Meeting for Participation Solidarity and Democratic Society (Minbyun) On the 25th, a press conference was held at Aumdrie Hall of Participation Solidarity in Jongno-gu, Seoul. As a result, the average total debt repayment ratio reached 81%,” he said. “This means that about 35.27 million won out of the average annual real salary of 43.54 million won (as of 2019) for LH employees will be used for debt repayment.” The total debt principal repayment ratio is the ratio of loan principal repayment to annual income during the year, and is a measure of whether or not we have the ability to repay the loan. The two organizations use the annual salary calculator of’In-person’, an old-income job search platform, to determine the average annual salary of LH employees, and the annual principal repayment based on farmland owned by 11 employees suspected of speculation and information on collateral loans (the highest amount of bonds) It was revealed that the average total debt principal repayment ratio was calculated by estimating the maturity of 20 years and the interest rate set at 3%. This is an average calculated without considering the individual annual salary or other debts of employees according to their position, and may differ from the actual figures. As a result of the calculation, it was found that the total debt repayment ratio of 11 employees ranged from a minimum of 33% to a maximum of 144%. In particular, toward the employee B whose total debt principal repayment ratio is 144% (the principal and interest to be paid annually is 1.44 times the annual salary, 62 million won), “It is difficult to regard it as a normal land transaction and it is judged to be a speculative act for market gains, but the loan is regulated. The two organizations analyzed that the case did not work properly. “The figure calculated by setting the maturity to 20 years under the assumption that they have no other debts. If the maturity is 5 or 10 years, or if other debts are included, the figure will rise further.” He pointed out that if the basic principles of finance were followed and a 40% total debt repayment ratio was applied to each borrower, the speculation attempts by LH employees would have been blocked at the source.” In addition, the two organizations said, “The total debt repayment ratio of over 40% accounts for 24.7% of the total in the household loans of 8 domestic commercial banks.” As seen from the massive mobilization, loan restrictions must be taken to eradicate real estate speculation.” By Jang Pil-soo, staff reporter [email protected]