Starting in the second half of this year, the South Korean government will cut the initial down payment for public projects from the current maximum of 70% to a range of 30-50%. This decision follows President Lee Jae-myung's instruction for system improvements after issues with railroad delivery delays were brought to light in December 2022. The Ministry of Economy and Finance announced the new 'down payment rationalization plan' during the Economic Relations Ministerial Meeting held on the 25th, stating that while the general limit for initial down payments will be fixed at 30%, small contracts and those involving small to medium-sized enterprises will have the potential to receive up to 50%.