Bank of Korea Governor Lee Chang-yong: "Real Estate PF Issues Are at a Manageable Level"

Lee Chang-yong, Governor of the Bank of Korea, is striking the gavel at the Monetary Policy Committee meeting held at the Bank of Korea in Jung-gu, Seoul, on the morning of the 22nd. Photo by Joint Press Corps

Lee Chang-yong, Governor of the Bank of Korea, stated at a press conference held after the Monetary Policy Committee decided to keep the base interest rate unchanged on the morning of the 22nd that the domestic real estate project financing (PF) issue is at a manageable level.

In response to a question about the April crisis theory that the construction industry would face mass bankruptcies after the general election, Governor Lee said, "The idea that real estate PF will collapse after the general election is a big misunderstanding," adding, "Many real estate PFs are being resolved, and I would rather question the basis for the claim that there will be significant changes around the general election."

He added, "(Not all PFs) can survive, but I think it is at a manageable level," and said, "We should aim for financial stability through micro policies, and I do not think this is an issue to be solved by interest rates."

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