HUG chief inspects Busan pre-sale guarantee site ahead of summer rainy season

Korea Housing Finance Corporation (HUG) said Tuesday it carried out a safety inspection Monday at a pre-sale guarantee project site in Sasang-gu, Busan, to prevent accidents during the summer rainy season. The site is known as Gyeongbo Centrian 3.

The project had been halted after the developer abandoned it, triggering a pre-sale guarantee incident. Remaining construction work is expected to resume this month, and the inspection was part of HUG's on-site management efforts to fulfill its guarantee obligations to pre-sale contract holders.

HUG President Choi In-ho reviewed the site's safety conditions, checking the maintenance status of flood-prevention facilities in preparation for heavy summer rains and typhoons and inspecting electrical distribution panels to prevent short-circuit accidents. He said thorough safety management was essential to resuming construction quickly.

"Since this site had its construction suspended due to a pre-sale guarantee incident, we ask that you strictly manage the process and strengthen safety management to ensure the remaining work proceeds without a hitch and that the site remains accident-free," Choi said. "HUG will fulfill its responsibilities so that prospective move-in residents can settle into their new homes as soon as possible through swift guarantee fulfillment."

Meanwhile, HUG plans to conduct summer safety inspections at 13 guarantee project sites nationwide, including the Busan site. The corporation also ran a "jeonse fraud prevention relay campaign" in May to raise awareness about jeonse fraud.