Tag: project financing

project financing

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Financial Services Commission Secretary-General Kwon Dae-young speaks during a press briefing on the government's latest plan to induce a soft landing for project financing loans in the real estate sector at the government complex in central Seoul on Monday. [NEWS1]

Financial authorities announce construction loan restructuring plan to prevent collapse

The FSC and FSS will use a new evaluation standard and offer incentives to construction companies in a bid to promote restructuring.

2024.5.13

Financial Supervisory Service Gov. Lee Bok-hyun speaks in a meeting with heads of finance and construction companies in western Seoul on Thursday. [YONHAP]

Korea's real estate PF delinquency ratio climbs on quarter in December

The outstanding real estate PF loans grew 1.4 trillion won ($1.05 billion) over three months to 135.6 trillion won at the end of December, according to Financial Supervisory Service (FSS) data on Friday.

2024.3.22

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Taeyoung Engineering & Construction (E&C)'s headquarters in Yeouido, western Seoul [YONHAP]

Embattled Taeyoung pressed to improve restructuring plan

Financial authorities and state-run bank pressed TY Holdings, the parent company of the indebted Taeyoung Engineering & Construction (E&C), to inject the outstanding $67.6 million from the sale of Taeyoung Industries into the construction arm.

2024.1.5

A corporate flag of Taeyoung E&C, shown at its headquarters in western Seoul on Wednesday [NEWS1]

Taeyoung E&C's restructuring proposal shot down by Korea's financial regulator

The chief of Korea's financial regulator criticized the self-rescue plan proposed by cash-strapped Taeyoung Engineering & Construction (E&C), pushing the mid-sized construction company to come up with a better proposal by this weekend.

2024.1.4

New apartments under construction in Incheon [NEWS1]

Korea's construction industry is on the verge of crisis

The Korean construction industry's contingent liabilities associated with real estate project financing currently surpass 22 trillion won, raising concerns over the sector's financial stability.

2023.12.27

A soft landing is needed for PFs without politics

While tending to a soft landing of the PF market in order not to trigger a financial shock, authorities must not make a political decision with less than four months to go before the general election.

2023.12.18

Finance minister nominee Choi Sang-mok speaks during a press conference held in central Seoul on Tuesday. [NEWS1]

Korea must build a 'dynamic economy,' vows finance minister nominee

Finance minister nominee Choi Sang-mok said “dynamic economy” is one of the most important keywords for an economy that is still recovering from challenges including inflation and the soft landing of the property market.

2023.12.5

A BNK Kyongnam Bank branch in Seoul [YONHAP]

FSS confirms $225M embezzlement at BNK Kyongnam Bank

An employee at BNK Kyongnam Bank has embezzled $225 million, according to the Financial Supervisory Service, which plans to take strict action against those involved.

2023.9.20

Now chaos from the credit cooperative (KOR)

A closer study is required to examine whether dealmaking is behind the preferential treatment.

2023.7.10

Now chaos from the credit cooperative