FSC Chairman Lee Eok-won speaks at a Cabinet meeting presided over by President Lee Jae Myung at Cheong Wa Dae on Tuesday. [Yonhap]
FSC Chairman Lee Eok-won speaks at a Cabinet meeting presided over by President Lee Jae Myung at Cheong Wa Dae on Tuesday. [Yonhap]

FSC Chairman Lee Eok-won said Monday he would work quickly with banks to find a practical solution for pre-sale buyers who have been unable to secure balance payment loans due to aggregate household lending caps.

Speaking at a real estate policy forum at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Lee said authorities are considering "targeted support" to ease the burden on genuine buyers — including young people and newlyweds — without undermining the broader household lending management framework.

He made clear, however, that the overall stance would remain one of consistent tightening. "If we loosen lending, there is a risk of stimulating the overall housing market and triggering a vicious cycle of rising prices," Lee said. "The general direction must be consistent and strict regulation of real estate lending. That seems unavoidable."

He added that the focus was on finding "realistic measures that ease inconvenience without compromising the overall policy direction."

Lee also said the financial sector would play a role on the supply side. "We need to act in a way that promotes developer financing to help new housing reach the market," he said, adding that the FSC would consult with the Ministry of Land, Infrastructure and Transport.

Financial authorities began working on follow-up measures after a pre-sale buyer of an apartment in Suwon appealed at a real estate forum presided over by President Lee Jae Myung on Thursday, saying aggregate lending caps had left them unable to obtain a balance payment loan. Exempting group loans — a subset of balance payment loans — from the aggregate cap is now the leading option under consideration.


hyuk@heraldcorp.com
ehkim@heraldcorp.com