<Anchor> The
construction industry, which is facing a real estate recession and a growing number of unsold homes,
is becoming more anxious in the wake of the recent global bank bankruptcy. It has been pointed out that real estate project financing, which is financed by taking out loans in advance based on the proceeds of the sale to be received later, can lead to the insolvency of the finance company.

Reporter Park Ye-rin contributed to this report.

<Gija>
This is a construction site in
Saha-gu, Busan.

It will include residential facilities such as apartments and officetels, as well as maritime cultural complexes and commercial facilities.

It is a large-scale project with a land area of 18,1 square meters.

However, for more than a year after the start of the business, the entrance was closed with a padlock.

[Nearby Realtor: They have something to build and do, but nothing is decided exactly.]

The company borrowed 3 billion won when it started its business, the sales market deteriorated, interest rates soared, business feasibility declined, and local government licensing was delayed, so the financial companies that lent the money are trying to pull out.

If you manage to secure a two-month grace period but fail to find 700 billion won in interest expenses by next month, your business is in danger of being stranded.

Last month, Daewoo Engineering & Construction paid a huge sum of 400 billion won and gave up the right to build the Ulsan residential complex altogether.

The industry estimates that the amount of PF maturing after April will reach 440 trillion won, but it is difficult to re-extend it.

Signs of stale appear from the fat where the unsold amount is surging.

Of the more than 4 construction companies that reported closures this year, 30 were local companies.

In the industry, it is even openly said that "PF insolvency will explode in the order of cherry blossoms", which is transferred to the insolvency of financial companies.

In particular, the second financial sector, which saw the rise in real estate as an opportunity and more than tripled the size of new loans in five years, is a problem.

Currently, the PF volume of non-bank real estate is 800.510 trillion won. The delinquency rate of savings banks has doubled in nine months.



In the case of Saemaul Treasury, which is known as the "big hand" of the real estate loan market, the delinquency rate of related loans exceeds 5%, and the amount reaches 3 trillion won.

[Joo Won/Director of Research at Hyundai Economic Research Institute: Since such financial companies are intertwined with relatively difficult financial companies, there is a possibility that these small financial companies will run when there is a problem.]

In the face of increased financial market instability, there are growing concerns that real estate PFs could be the 'weak link'.

(Video Interview: Bae Moon-san, Video Editing: Lee So-young)