Kwon Dae-young, secretary-general of the Financial Services Commission (FSC), speaks during a press conference at the government complex in Seoul, May 13. Yonhap
Korea’s financial authorities announced plans to minimize risks stemming from short-term real estate project financing (PF) loans Monday that include additional funds for strong, survivable projects but a speedy way out for those failing.
The authorities also set up new evaluation standards to more swiftly determine which projects will likely succeed and which should be liquidated.
“Despite past efforts, there have been cases where loans to failing projects are generously rolled over while interest rates and inflation are expected to remain high for an extended period of t…
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