"HUG President Encourages Developers, Vows to Support Housing Supply Liquidity"

Choi Inho, President of the Housing and Urban Guarantee Corporation (HUG), met with Kim Hanmo, Chairman of the Korea Developers Association, as well as other association leaders in Gangnam-gu, Seoul, on the 20th to discuss key industry issues. Previously, Choi focused on gathering feedback from the field, holding meetings with the Korea REITs Association on the 12th and the Korea Housing Builders Association the following day.

Choi Inho, President of Housing & Urban Guarantee Corporation (HUG) (front row, second from left), Kim Hanmo, Chairman of Korea Developers Association (front row, third from left), and other officials are taking a commemorative photo at the meeting on the 20th. Provided by Housing & Urban Guarantee Corporation (HUG)

The meeting was organized to hear directly from developers—those at the starting point of housing supply—about the challenges they face, and to seek out practical financial support measures. President Choi stated, "Even for projects with sound business prospects, temporary liquidity shortages and the burden of high interest rates are causing delays. We will offer liquidity at low interest rates to support these sites."

To facilitate a smooth transition from bridge loans in the early stages of funding to main project financing (PF), HUG will steadily expand its provision of special PF guarantees for small and medium-sized construction and development companies. In line with the government's September 7 urban housing supply expansion policy, the corporation also plans to promptly improve systems such as the Urban Housing Special Guarantee. President Choi added, "This year, we plan to increase the annual scale of housing construction-related guarantees to about 100 trillion won. We aim to go beyond being a simple guarantor to becoming a pillar of the real estate ecosystem, connecting development, construction, and finance."

This content was produced with the assistance of AI translation services.