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 all personnel on September 1 to concentrate their efforts on providing the necessary financial support to facilitate housing supply in Seoul and the greater metropolitan area. The Financial Supervisory Service announced plans to expand its residential real estate project financing (PF) management system and, by next year, assign designated managers for key development sites in the metropolitan area scheduled for supply, ensuring close supervision.

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

During an executive meeting held that morning, Governor Lee emphasized that, in accordance with the government's August 13 housing supply measures, it is essential to enable early and large-scale housing supply, and made these requests accordingly.

The Financial Supervisory Service has initially expanded its residential real estate PF workforce from a single department-focused structure to a coordinated system that includes relevant examination departments. In particular, it has selected 325 sites—including housing developments in regulated metropolitan areas scheduled for supply by 2027—as priority targets for intensive management. For each project, a dedicated manager will be assigned to oversee progress and monitor funding and financial procurement closely.

If project delays or difficulties are identified, the Service plans to actively collaborate with related organizations such as the Ministry of Land, Infrastructure and Transport and Korea Land & Housing Corporation (LH), as well as with the financial sector, to provide site-specific and timely support. For difficulties related to funding, it will coordinate with financial companies and policy guarantee institutions to mediate solutions; for other operational challenges, the Service will consult with related agencies such as the Ministry of Land to explore resolution measures.

Governor Lee emphasized, "There must be special management to ensure that the timelines of projects scheduled for completion by 2027 are not delayed," and further requested, "Please explore ways to deliver housing earlier than originally planned."

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