The Financial Supervisory Service will form a financial support task force to promote the supply of dwellings in the capital region and move to closely manage individual establishments.
The Financial Supervisory Service (FSS) said on the 3rd that it held a roundtable led by Senior Deputy Governor Lee Se-hoon with the financial sector, including Shinhan Bank, to discuss ways to support residential real estate project financing (PF). The FSS decided to operate a "financial support task force to promote the supply of dwellings" composed of a total of 25 people. The judgment is that swift financial support is needed to carry out the Aug. 13 real estate measures without a hitch.
The FSS will first assign a person in charge for each establishment for 325 sites (about 180,000 households), including capital region residential PF establishments that will start or complete construction by next year. Each person in charge will identify and manage difficulties at the establishments and report immediately to the FSS when signs of abnormality occur. It also plans to conduct a full check of factors delaying the projects and classify them into four management types (normal progress, supply promotion, normalization support, sale inducement) to provide support.
Establishments where projects are temporarily delayed (supply promotion, normalization support) will be actively linked with the Ministry of Land, Infrastructure and Transport, related institutions, and the financial sector. Establishments proceeding normally will also be connected to support measures so that permitting and financial support can bring forward the supply schedule. For establishments that need to be sold, swift sales will be actively encouraged.
The FSS urged, "As swift supply of dwellings is the top priority to ease the public's housing anxiety, we ask the financial sector to carefully look into on-site conditions at PF business sites."