“If the PF landing plan is implemented, it will enhance Korea’s overseas credibility.”,
Lee Bok-hyun, head of the Financial Supervisory Service, speaking at the ‘2024 Financial Supervisory Advisory Committee Plenary Meeting’ held at the Bank Building in Jung-gu, Seoul on the afternoon of the 8th. /Photo = Newsis, ‘Lee Bok-hyun, head of the Financial Supervisory Service, stated that the recently announced real estate PF (Project Financing) landing plan is an important opportunity to resolve market uncertainties and promote capital circulation, urging for speedy follow-up measures and thorough management.’,
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, ‘On the 16th, the head of the Financial Supervisory Service held a market trend review meeting by connecting with the Seoul Financial Supervisory Service and New York · London offices via video conference.’,
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, ‘Financial authorities announced the real estate PF landing plan on the 13th. The meeting was held to assess the market situation after the announcement and to prepare for future responses.’,
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, ‘Market experts who attended the review meeting stated, “With clear project evaluation criteria being announced, it is expected that the market will be able to self-assess and prepare to contribute to resolving uncertainties” and also evaluated, “During the process of restructuring PF businesses with poor viability, there may be attention on vulnerable small and medium-sized financial companies or construction companies facing losses.”‘,
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, ‘The head of the Financial Supervisory Service said, “Rigorous project evaluation is the first step for the normalization of PF, and financial institutions should be rigorously evaluated according to improved evaluation criteria. Strengthen on-site inspections to ensure visible results from the landing plan such as auction and sale, substantial restructuring, and liquidation due to poor viability.”‘,
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, ‘Furthermore, he emphasized the need for thorough preparation and prompt execution of incentives for expanding private demand-based syndicate loans and restructuring and supplying new funds, stating, “I will push for additional meetings with the construction industry in mid-May to actively communicate with participants in the PF market.”‘,
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, ‘Having left for New York for an IR (Investor Relations) business trip, the head of the Financial Supervisory Service said, “Overseas investors are showing high interest in domestic PF issues” and added, “For advanced countries, assessing and preparing for responses to the risks of real estate finance due to excessive leverage in high-interest rate situations is a very important task.”‘,
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, ‘He then added, “If the orderly landing plan for real estate PF is executed as planned in the future, it will greatly help enhance Korea’s financial credibility abroad.”‘, ‘article_split’,
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