Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/308155 
Authors: 
Year of Publication: 
2024
Series/Report no.: 
KDI Focus No. 134
Publisher: 
Korea Development Institute (KDI), Sejong
Abstract: 
Over the past several decades, real estate project financing (PF) has repeatedly triggered economic disturbances in Korea, with no fundamental remedies in sight until now. Project sponsors are at the heart of this issue, investing minimal equity while heavily relying on guarantees from third parties, such as construction firms, to push forward development projects entirely on debt. This financing structure is unheard of in major advanced countries. Korea needs to reform its unique PF structure by augmenting capital and reducing dependence on guarantees.
Persistent Identifier of the first edition: 
Document Type: 
Research Report

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