Vice Chairman Kim So-young of the Financial Services Commission presided over a meeting participated by officials from relevant authorities and policy financial institutions on September 12. During the meeting, Vice Chairman Kim stated that the government will pursue its utmost efforts to ensure seamless provision of funds aimed at normalizing the real estate project finance (PF) market. The participants shared the same view that it is necessary to keep close tabs on the PF market amid ongoing high interest rates and rising construction costs. Vice Chairman Kim said that the government is expected to announce follow-up measures to make the operation of the real estate PF market normalization fund (KRW1 trillion planned for operation in September) more effective. Vice Chairman Kim also requested construction companies in the private sector to actively participate in the self-rescue efforts to promote normalization of the real estate PF market.