[Edaily Reporter Jeong Min-ju ] With the total volume of in-house loans at public institutions, securities firms, and large conglomerates estimated to be approaching 1 trillion won, financial authorities are reviewing whether to apply lending regulations to such loans. This comes as concerns have been raised that in-house loans could be used as a loophole following the tightening of real estate lending regulations.

On the 22nd, during a comprehensive audit by the National Assembly’s Political Affairs Committee, Song Eon-seok, a lawmaker from the People Power Party, presented data on the current status of in-house loans totaling 914 billion won, including 102 billion won from public institutions, 170 billion won from 29 securities firms, and 630 billion won from seven major conglomerates. He estimated that the total volume of in-house loans would exceed 1 trillion won when combined with the Samsung Group’s in-house loans, which amount to up to 500 million won per borrower.

He particularly pointed out that the volume of in-house loans is growing rapidly. In-house loans at the 29 securities firms increased by 106.8% compared to 2022, while those at the seven major conglomerates rose by 92.8%.

Rep. Song raised concerns about fairness, stating, “While regulations on real estate loans, such as mortgage loans, apply to ordinary citizens, the same regulations do not apply to in-house loans.”

Regarding the need for regulations on in-house loans, Financial Services Commission Chairman Lee Eun-won said, “We need to consider how to approach this methodologically.” He also explained, “In the case of Samsung, since the company establishes a mortgage when issuing in-house loans, the possibility of using this as a loophole to secure additional loans from financial institutions may be reduced.”

When asked whether they had considered applying DSR and LTV regulations to in-house loans, Lee Chan-jin, Chairman of the Financial Supervisory Service, replied, “We are currently discussing this with the Financial Services Commission at the working level,” adding, “A specific direction or implementation timeline has not yet been determined.”

Rep. Song went on to point out that as real estate lending regulations have tightened, the proportion of home purchases funded by proceeds from the sale of stocks and bonds, gifts, inheritances, and other forms of borrowing has increased. This suggests that, unlike ordinary citizens subject to lending restrictions, those with assets can circumvent the regulations by securing funds through family loans or gifts.

In particular, he criticized the “balloon effect” resulting from loan restrictions across different regions. He explained that even if housing prices in the Gangnam area are curbed, demand from those able to purchase homes using loans could shift to areas like Gangbuk and Gwanak—where lending capacity is relatively higher—potentially causing housing prices there to rise.

Rep. Song argued, “This is a very serious issue in terms of equity and fairness,” and asserted that loan restrictions on genuine homebuyers should be eased. In particular, he demanded that regulations be significantly relaxed for newlyweds and first-time homebuyers.

He added, “Due to total loan volume caps and individual financial institutions’ internal regulations, there are cases where genuine homebuyers who actually need funds are unable to secure loans; therefore, the Financial Services Commission must issue clear guidelines to financial institutions.”