Lee Chan-jin, the head of the Financial Supervisory Service, has directed that all efforts be concentrated on financial support to ensure the early supply of housing in Seoul and the surrounding metropolitan area, in line with the government's August 13 housing supply measures.
During an executive meeting on September 1, Lee stated, "Expand the personnel responsible for residential real estate project financing and designate managers for each project site for close oversight."
In response, the Financial Supervisory Service will reorganize its management system for residential real estate project financing, which was previously handled by a single department, to collaborate with relevant inspection divisions. Initially, it plans to focus on managing 325 residential projects scheduled for supply in 2027 within regulated areas of the metropolitan region.
Lee instructed that if any delays in projects or funding issues are identified, the agency should actively collaborate with the Ministry of Land, Infrastructure and Transport and the Korea Land and Housing Corporation (LH) to ensure timely, tailored support for each project.
For projects facing funding difficulties, the plan is to mediate with financial institutions and policy guarantee agencies, while resolving other operational challenges, such as permits, through discussions with relevant authorities like the Ministry of Land.
Lee emphasized, "Projects scheduled for supply by 2027 should be specially managed to avoid delays, and measures for early supply should be explored."
* This article has been translated by AI.
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