“Focus on Normalizing PF Projects and Easing Regulations to Stimulate Housing Supply”
Seoul, March 4 (Yonhap News) – Reporter Kwon Hye-jin: Han Seung-gu, the chairman of the Construction Association of Korea, announced on the 4th his plan to “fully respond to revitalize the construction industry.”
Han, who took office as the chairman of the Construction Association of Korea, which has over 12,000 member companies, in March last year, issued a press release on the first anniversary of his inauguration. He stated his commitment to overcoming the construction market crisis, securing appropriate construction costs, and improving the industry’s image.
With the recent downturn in the real estate market, middle-sized and small construction companies have increasingly been filing for court management, escalating a sense of crisis within the construction industry.
Chairman Han proposed the normalization of real estate project financing (PF) by extending financial support as a key focus for this year.
He also added that he plans to activate the housing supply market through the loosening of reconstruction and redevelopment regulations and the development of new towns, ensuring that the construction investment results circulate back into the industry.
Furthermore, to enhance safety and quality in construction sites, he aims to implement ▲ realignment of construction cost estimation systems and standard unit prices, ▲ securing stable construction costs through improvement of the ordering system, ▲ rational operation of safety systems, and ▲ establishing sound labor-management relations.
Chairman Han stated, “Since the Korean War, the construction industry has laid the foundation for national economic development amidst dirt mounds, contributing to the economy with the determination to create ‘something’ from ‘nothing’ despite severe adversity. Although the current situation facing the construction industry is challenging, let’s overcome it and unite all construction professionals with one heart and mind to escape the crisis.”