![Financial Services Commission Secretary-General Kwon Dae-young speaks during a press briefing on the government's latest plan to induce a soft landing for project financing loans in the real estate sector at the government complex in central Seoul on Monday. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2024/05/13/54c2c8fc-084d-4cc7-8151-287107b61019.jpg)
Financial Services Commission Secretary-General Kwon Dae-young speaks during a press briefing on the government’s latest plan to induce a soft landing for project financing loans in the real estate sector at the government complex in central Seoul on Monday. [NEWS1]
Koreas financial authorities will facilitate a restructuring of the cash-strapped real estate sector with a possible 5 trillion won ($3.7 billion) in funding and a new evaluation standard to assess business feasibility.
The plan was announced on Monday by the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), in a bid to achieve a soft landing of the 230 trillion won in real estate project financing loans.
The potential …
Read the full article at: https://koreajoongangdaily.joins.com/news/2024-05-13/business/economy/Financial-authorities-announce-construction-loan-restructuring-plan-to-prevent-collapse/2045559