[Alpha Biz=(Chicago) Reporter Kim Jisun] As concerns grow over the insolvency of the real estate project financing (PF) market, financial authorities are holding a series of meetings with market participants, including the top five financial holding companies, construction companies and secondary financial institutions.
Although it has earned time by extending the maturity of PF loans this year, it is expected that full-fledged restructuring and restructuring will take place from next year.
According to the financial authorities on the 7th, the Financial Services Commission called in vice presidents in charge of PF affairs at the five major financial holdings on the 5th to examine the market situation and discuss future countermeasures. On the 4th, he met with five PF Normalization Fund managers of the Korea Asset Management Corporation (KAMCO) to check the execution status.
"In order to monitor the real estate PF market situation, we frequently hold meetings with people in various fields to listen to market trends and prospects," a Financial Services Commission official said. "We will continue more than 10 meetings, including developers, construction companies and the secondary financial sector."
PF is one of the largest 'detonator' in the domestic financial market. As of the end of June this year, the balance of real estate PF loans stood at 133.1 trillion won, up 1.5 trillion won from the end of the first quarter, according to the Financial Supervisory Service. The balance of real estate PF loans, which stood at 92.5 trillion won at the end of 2020, has been on the rise every year to 112.9 trillion won at the end of 2021 and 130.3 trillion won at the end of 2022.
The problem is that the delinquency rate is also skyrocketing. As of the end of June this year, the delinquency rate of real estate PF loans stood at 2.17%, about four times higher than 0.55% at the end of 2020. The delinquency rate of real estate PF, which was below 1% until the end of 2021, jumped to 1.19% at the end of last year and 2.01% at the end of March this year.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
