Lee Eokwon: "Further Mortgage Loan Limit Cuts Are Baseless... Investigation Sought Over False Information"

Financial Services Commission Chairman Lee Eokwon said that an online post claiming the government would further reduce the limit on mortgage loans was false, and that the government would take a tough stance, including requesting an investigation.

Financial Services Commission Chairman Lee Eog-won answers lawmakers’ questions during a parliamentary audit of the Financial Services Commission and other agencies at the National Assembly on Oct. 8, 2026. Photo by Yoon Dong-ju

In a post on October 20 on X (formerly Twitter), his social media account, Lee said, "The claim that the mortgage loan limit would be further reduced based on housing prices is entirely false."

Earlier that day, a post claiming the government was pursuing measures to further restrict mortgage loan limits based on housing prices spread online.

The post said mortgage loans would be completely banned for homes priced at 1.5 billion won or more, while loan limits would be capped at 200 million won for homes priced above 1 billion won and at 400 million won for homes priced at 1 billion won or less.

Currently, in the Seoul metropolitan area and other regulated areas, mortgage loans for homes priced at 1.5 billion won or less are capped at 600 million won.

"The Financial Services Commission has taken a firm stance against the spread of false information that undermines sound market order," Lee said, adding, "We plan to take the necessary measures, including requesting an investigation." He added, "We also plan to respond firmly if similar cases occur in the future."

This content was produced with the assistance of AI translation services.