Finance Minister and Deputy Prime Minister Choi Sang-mok, who took office early this year, urged the financial sector to make their utmost effort in risk management to mitigate rising concerns over a looming real estate project financing crisis. Choi also stressed the value of solidarity and mutual support as keys to overcome challenges posed by economic uncertainties.
The Financial Services Commission (FSC) will make efforts to facilitate a smooth resolution of the real estate project financing (PF) crisis as one of the key urgent priorities in 2024, the head of the country s top financial regulator said Sunday.
The Financial Services Commission (FSC) will make efforts to facilitate a smooth resolution of the real estate project financing (PF) crisis as one of the key urgent priorities in 2024, the head of the country s top financial regulator said Sunday.
Ailing builder Taeyoung Engineering & Construction applied for a debt-restructuring program Thursday to tide over a cash crunch, raising concerns over troubled peers in Korea..
Taeyoung Engineering & Construction filed for corporate debt restructuring, prompted by a failed payment of 48 billion won ($37 million) on a project financing debt due Thursday.