Government to Establish 3 Trillion Won Fund to Support Housing Supply The government plans to create a new fund worth 3 trillion won to normalize troubled real estate project financing (PF) sites. The initiative aims to enhance housing supply by revitalizing PF projects that have stalled due to financial difficulties despite their viability.On September 17, Kwon Dae-young, Vice Chairman of the Financial Services Commission, visited an apartment construction site in Dohwa-dong, Mapo-gu, Seoul, to assess the operation of the 'KAMCO PF Project Normalization Support F September 17, 2026

Despite Extended Residency Grace Period, Homebuyer Loan Barriers Remain High The government has expanded the residency grace period for properties in land transaction permit zones, but loan regulations remain unchanged, keeping the barriers high for homebuyers without property. While the path to purchasing homes with tenants has widened, buyers whose funds are tied up in rental deposits face challenges in securing the necessary funds for closing.According to the Ministry of Land, Infrastructure and Transport, the application deadline for the residency grace period for re September 17, 2026

Financial Supervisory Service Reports on Consumer Protection Progress The Financial Supervisory Service (FSS) has revealed its achievements in consumer protection over the past year. While it has connected issues identified during the complaints and disputes process to system improvements and established a proactive supervisory framework, challenges remain due to short-term performance-driven sales practices and an increase in complaints and disputes.On September 17, the FSS held a public report meeting in Yeouido, Seoul, to present its accomplishments and future September 17, 2026

Namsan Cable Car Faces Permanent Monopoly Ban; Reauthorization Every 20 Years Safety management for cable cars and monorails will be strengthened. The duration of business permits will be limited to a maximum of 20 years, and a reauthorization system will be introduced.The Ministry of Land, Infrastructure and Transport announced on the 17th that the revised 'Enforcement Decree of the Rail Transport Act' and 'Enforcement Rules of the Rail Transport Act,' approved at a Cabinet meeting on the 8th, will take effect on the 18th.According to the revised Rail Transport Act, the September 17, 2026

Chung Dong-young Proposes Comprehensive Framework for Peace on Korean Peninsula Chung Dong-young, the Minister of Unification, proposed a comprehensive framework for peace on the Korean Peninsula that encompasses the signing of a peace treaty, normalization of relations between North Korea and the U.S. and Japan, halting North Korea's nuclear advancements, and inter-Korean economic cooperation.In a keynote speech at the "Three Blueprints for Peaceful Coexistence on the Korean Peninsula: A Journey to Peace" conference held at the Westin Chosun Hotel in Seoul, Chung emphasize September 17, 2026

Kim Seong-soo Advances in National Assembly, Poised to Become First Supreme Court Justice Under Lee Administration Kim Seong-soo's nomination for Supreme Court Justice has passed the National Assembly's threshold on September 17. If approved by President Lee Jae-myung, he will become the first Supreme Court Justice appointed under the current administration, with an appointment expected as early as this week.During the afternoon session, the National Assembly voted on Kim's nomination, with 227 members in favor, 28 against, and 13 abstentions out of 268 present.Kim is set to succeed former Justice Lee Heung- September 17, 2026

Ministry of Science and ICT and Broadcasting Media Commission Accelerate Establishment of Korean Broadcasting Media Communication Promotion Agency The Ministry of Science and ICT and the Broadcasting Media Commission have reviewed the progress of cooperation in the fields of artificial intelligence (AI) and over-the-top (OTT) services. They also discussed key issues including the preparation for the establishment of the Korean Broadcasting Media Communication Promotion Agency, terrestrial UHD policy, and user protection from infringement incidents.On September 17, the two agencies held their first working-level meeting as a follow-up to a September 17, 2026

SBI Savings Bank Partners with KakaoPay and KCB to Expand Loans for Low to Mid-Credit Borrowers SBI Savings Bank is collaborating with KakaoPay and Korea Credit Bureau (KCB) to enhance financial access for low to mid-credit borrowers. On September 17, SBI Savings Bank announced that it has signed a memorandum of understanding (MOU) with KakaoPay and KCB to expand financial services for this demographic. The agreement aims to improve access to finance for vulnerable groups who may not be adequately assessed by traditional credit information alone. SBI Savings Bank plans to utilize KakaoP September 17, 2026

Hannam New Town Development Gains Momentum as Hannam District 3 Passes Review The Hannam District 3, the largest area within the Hannam New Town, has passed the integrated review by the Seoul city government after approximately four and a half months since its application. With the demolition of existing buildings nearing completion, preparations for construction and infrastructure work are expected to accelerate.According to the Seoul city government on September 17, the Hannam District 3 redevelopment area received conditional approval during the integrated review commi September 17, 2026

Gyeongnam, Daejeon, Jeonbuk, and Chungnam Designated as Specialized Zones for Materials, Parts, and Equipment 경남과 대전, 전북, 충남이 제3기 소재·부품·장비(소부장) 특화단지로 새로 지정됐다. 조선·방산·반도체 핵심 소재·부품의 국내 공급망을 강화하기 위해 2030년까지 민간에서 7조7000억원을 투자하고 정부도 연구개발(R&D)과 기반 구축 등에 1600억원을 투입한다.산업통상부는 17일 한국수출입은행에서 김정관 장관 주재로 '제18차 소재·부품·장비 경쟁력강화위원회'를 열고 신규 소부장 특화단지 지정안을 심의·의결했다고 밝혔다.새로 지정된 곳은 경남 거제 조선 September 17, 2026