Early housing supply measures directed at executive meeting

Delays to trigger collaboration with land ministry, LH and lenders

Financial Supervisory Service Governor Lee Chan-jin. [Yonhap]
Financial Supervisory Service Governor Lee Chan-jin. [Yonhap]

Financial Supervisory Service Governor Lee Chan-jin has ordered priority oversight of 325 residential real estate project financing sites in the greater Seoul area, with special management required for those scheduled to deliver housing by 2027 and a directive to explore ways to accelerate supply.

The FSS said Lee issued the order at an executive meeting Tuesday, calling on the agency to "concentrate all capabilities on the financial support needed to enable early, large-scale housing supply in Seoul and the metropolitan area in line with the Aug. 13 supply measures."

In response, the FSS will expand its residential real estate PF oversight framework — currently handled by a single dedicated unit — to include the relevant inspection bureaus. Site-specific managers will also be assigned.

The immediate focus will be 325 project sites in regulated residential zones in the greater Seoul area, prioritizing those slated for delivery by 2027. When delays or difficulties are identified, the FSS plans to connect the relevant agencies and lenders to provide site-by-site support.

Lee urged the agency to "actively collaborate with related institutions such as the Ministry of Land, Infrastructure and Transport and Korea Land and Housing Corp., as well as the financial sector, to ensure timely, tailored support for each project site."

Sites facing funding difficulties will be referred to lenders and policy guarantee agencies for mediation, while other operational obstacles will be addressed in consultation with the land ministry and other relevant bodies.

Lee also directed the agency to "apply special management to ensure that project sites scheduled for delivery by 2027 do not fall behind schedule," and to seek ways to bring supply forward.

The measures follow the government's housing supply package announced Aug. 13, under which authorities committed to expanding PF guarantees, providing financing support for viable projects and helping normalize distressed sites.


rim@heraldcorp.com