A Study on the Concept of Fundamental Right to Finance to Realize the Social Value of Finance: Focusing on the Legal Issues of Mortgage Loan Regulation

The social value of finance is that, as finance exists and develops, the imperfect real economy becomes less incomplete, resources are allocated more efficiently at lower costs, and the realm of the market economy expands, contributing to economic growth. Recently, finance is pioneering new services based on artificial intelligence and data and launching various financial products. It is also true that there are concerns about whether or not the ordinary people will be alienated from the essential social functions of finance, such as financing and lending, in this process. If finance is used as an easy real estate policy tool by regulators without a legal basis, as shown in the example of the mortgage loan system, and if finance becomes a 'playground tilted' in the process of income and asset formation where the unfair game operates, it will distort the distribution function of the economy and act as a cause of exacerbating social inequality. Fundamental right to finance is a constitutional norm and standard that enhances the social value and function of finance by these regulatory authorities, and can be a kind of social agreement that determines the content and direction of regulation within the constitutional values ​​of the financial system. This study aims to establish the social value of finance and the legal concept of 'fundamental right to finance' based on the analysis of the institutional status and regulatory system of LTV, DTI, and DSR for mortgage loans implemented after the Moon Jae-in administration. Although finance provides a basic foundation for individual wealth formation in modern society, the reality is that it is not easy for ordinary people to fully enjoy the services provided by finance. From the point of view of economic democratization, discussions on financial democratization have been raised, and based on this, fundamental right to finance is mentioned in an abstract way, but it is also a reality that concrete research on this is insufficient. This study is expected to contribute to the discussion of fundamental right to finance based on the social value of finance in the future.