The Construction Association of Korea and Korea Housing & Urban Guarantee Corporation (HUG) held a meeting for win-win cooperation on the 20th at the Construction Hall in Nonhyeon-dong, Seoul.
The meeting was attended by the heads of the association's 16 city and provincial chapters, along with representatives from large, medium and small regional companies related to dwellings, who proposed addressing industry difficulties related to housing supply, including: ▲ raising the mortgage guarantee limit ▲ improving the local unsold-home safe buyback system ▲ promptly establishing standards for conversion to sales for public-support private rental dwellings ▲ expanding the limit for special PF guarantees.
Association Chairman Han Seung-gu said, "HUG's preemptive support measures, such as discounts on guarantee fees related to dwelling supply and extensions of special PF guarantees, were a welcome relief for the construction industry struggling amid the Middle East war," and noted, "Going forward, we ask HUG to remain a solid pillar for the construction industry so that the foundation for dwelling supply does not collapse amid internal and external headwinds."
HUG President Choi In-ho said, "Cooperation from the construction industry is essential to expand dwelling supply," adding, "HUG will continue to reflect industry opinions, lower the threshold for guarantees and enhance the effectiveness of support, focusing on improving customer satisfaction."