Ministry of Land, Infrastructure and Transport Discusses 'PF Soft Landing' Measures with Related Agencies

Minister of Land, Infrastructure and Transport Park Sang-woo is announcing the major policy plans related to the transportation sector reported at the "Public Livelihood Discussion with the People" held at the Government Seoul Office in Jongno-gu, Seoul on the 25th. Photo by Jo Yong-jun jun21@

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On the 8th, the Ministry of Land, Infrastructure and Transport held a meeting with public institutions and related organizations in the industry, including the Housing and Urban Guarantee Corporation (HUG), the Construction Industry Research Institute, and the Korea Construction Association, to revitalize the construction industry and support the smooth landing of PF. This meeting was the first in a series of relay meetings, organized as a follow-up measure to the 'Housing Supply Expansion and Construction Economy Supplementary Measures' announced at the second public livelihood discussion presided over by President Yoon Seok-yeol on January 10.

At this meeting, the Construction Industry Research Institute presented the 'Current Status and Outlook of the Construction Economy and Real Estate PF Market.' This was followed by a review of the implementation status of the main policies from the January 10 measures. They also explored ways to expand public guarantees to facilitate smooth financing for PF projects. Additionally, measures to address disputes over construction costs caused by rising expenses, including plans to rationalize construction costs, were discussed.

Park Sang-woo, Minister of Land, Infrastructure and Transport, stated, "We will actively review support measures with relevant ministries to resolve difficulties faced by construction companies due to PF tightening and rising construction costs, aiming to restore vitality to the construction industry and ensure the smooth landing of PF."

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