Financial regulator says project financing delinquency rates still controllable

Financial Services Commission (FSC) Vice Chairman Kim So-young speaks to foreign financial institutions, including investment banks operating in Korea and Singapore, via a video conference call at the Government Complex in central Seoul, Tuesday. Courtesy of FSC

Financial authorities emphasized the stability of the Korean financial market with a firm determination to maintain the robust market order, aiming to allay foreign investors’ concerns over the country’s real estate project financing risks and the latest increase in banks’ delinquency rates.According to the Financial Services Commission (FSC), Korea’s top financial regulator, Vice Chairman Kim So-young, held a video conference on Tuesday with foreign financial institutions, such as investment banks operating in Korea and in Singapore.During the video conference, Kim provided an overview of the economic situation and financial market in Korea.

He underlined that the Korean financial market maintains solid stability despite various domestic and international uncertainties, with financial institutions possessing sufficient capacity to preemptively absorb losses.”Furthermore, the Korean government holds ample resources, including 94 trillion won ($69 billion) worth of market stabilization programs, to respond to any crisis situations, ensuring the continuity of a stable market environment in the future,” the vice chairman said during the video conference.Regarding the real estate project financing sector, Kim said the government has set a principle of “orderly soft landing,” seeking to ensure smooth funding for viable businesses while inducing restructuring for those lacking viability.He added that the Korean economy 카지노사이트킹 is entering a recovery phase.

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