Governor Lee Chanjin Orders Full Financial Support for Metropolitan Housing Supply... Close Supervision of 325 PF Sites

FSS Expands Residential Project Financing Management System

Dedicated Managers Assigned for Development Sites Scheduled for Supply by 2027

Lee Chanjin, Governor of the Financial Supervisory Service, instructed on September 1 that all available resources should be focused on providing the necessary financial support to accelerate housing supply in Seoul and the greater metropolitan area. The Financial Supervisory Service announced plans to expand its management system for residential real estate project financing (PF) and to assign dedicated personnel to closely monitor major sites where housing supply in the metropolitan area is scheduled for next year.

Lee Chanjin, Governor of the Financial Supervisory Service Photo by Yonhap News

During an executive meeting held on the morning of the same day, Governor Lee emphasized that, in line with the government's August 13 housing supply measures, all efforts must be made to ensure that housing can be supplied promptly and at scale.

The Financial Supervisory Service has first expanded and reorganized its workforce dedicated to residential real estate PF from a single department-based exclusive system to a cooperative framework involving all relevant inspection bureaus. In particular, the Financial Supervisory Service selected 325 sites—primarily in regulated areas within the metropolitan region, where supply is scheduled by 2027—as top priority management targets. Dedicated staff will be assigned to each project to provide close oversight of project progress and funding status.

If project delays or challenges are identified, the Financial Supervisory Service plans to actively collaborate with relevant institutions such as the Ministry of Land, Infrastructure and Transport, Korea Land and Housing Corporation (LH), and financial organizations, to ensure tailored support is provided to individual sites in a timely manner. Difficulties related to funding will be mediated through connections with financial companies and policy guarantee institutions, while other business-related issues will be addressed in consultation with related institutions such as the Ministry of Land, Infrastructure and Transport to seek solutions.

Governor Lee stated, "Special management is required to ensure that the timelines for projects scheduled for supply by 2027 are not delayed," and urged, "Please also explore ways to supply housing ahead of the original schedule."

This content was produced with the assistance of AI translation services.