SEOUL, The head of South Korea's financial regulator on Wednesday pledged to preemptively take active steps to manage risks stemming from global uncertainties, as well as short-term real estate project financing (PF) loans. Lee Bok-hyun, chief of the Financial Supervisory Service (FSS), especially stressed the need for efforts to soft-land potential liquidity shortages caused by real estate PF loans. "When looking at recent global and local financial conditions, the three highs -- high interest rate, high inflation and high exchange rate -- show signs of lasting for an extended period of time," Lee said in a meeting with members of the financial regulator's advisory committee. "Therefore, the FSS plans to do its utmost in creating the foundation for our country's economy and finance to take a leap forward," he added. "To this end, it will thoroughly manage potential risks through preemptive and active restructuring efforts." Lee said the government will speed up the liquidation and restructuring of real estate PF loan-funded businesses, calling them a "large risk factor." "It will work for the soft-landing of businesses that are deemed reparable by offering incentives for additional funding to support their normalization," he told the meeting, attended by some 100 FSS officials and committee members. The FSS chief also vowed efforts to reform the financial market to create what he called a virtuous cycle between the increase in the people's personal wealth and the development of real economy. To this end, the government will work to create an investor-friendly environment by enhancing the rights of shareholders and promoting "healthy" corporate governance structures, according to Lee. "In addition, we will work to establish a fair and transparent market order by developing a monitoring system to prevent illegal stock short selling and strengthening its related investigations," Lee said.