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The number of reverse mortgage applications is rising faster than expected in South Korea reports MK Business News.
During August, the number of applicants increased to 268 people, up 26% according to Korea Housing Finanance Corp.
The new insured amount grew from 281.2 billion won ($261.2 million) to 351 billion won.
Over the first eight months of the year, the number of new applications totaled 1,816, up 48% from a year earlier.
