The /v/ sound is spelled with <v> or <ve>. The /ŋ/ sound is spelled <ng>.
The contrast is between a labio-dental fricative and a velar nasal continuant, both voiced, and only occurring in syllable-final position. It is not a problem for learners.
All but 15 of the pairs arise from the contrast between an -ive adjective and an -ing verb form, such as suggestive/suggesting. An interesting clash of the two meanings of object arise in the pairing objective/objecting. Other interesting pairs include:
active acting
dative dating
The mean density value is 1.1%. The list makes 73 semantic distinctions, a loading of 90%.
abortive aborting active acting addictive addicting adoptive adopting assertive asserting attractive attracting coercive coercing collective collecting conducive conducing conductive conducting connective connecting constructive constructing convulsive convulsing corrective correcting costive costing creative creating cursive cursing dative dating deductive deducting defective defecting depressive depressing detective detecting digestive digesting directive directing disruptive disrupting dove dung effective effecting elective electing exhaustive exhausting expressive expressing have hang haves hangs having hanging impressive impressing inductive inducting instructive instructing interactive interacting introspective introspecting intuitive intuiting inventive inventing live ling lives lings love lung loves lungs massive massing missive missing objective objecting obsessive obsessing obstructive obstructing oppressive oppressing overactive overacting possessive possessing preventive preventing progressive progressing prospective prospecting protective protecting purposive purposing recessive recessing reflective reflecting regressive regressing repressive repressing repulsive repulsing resistive resisting respective respecting restive resting restrictive restricting retrogressive retrogressing river ringer rivers ringers selective selecting sieve sing sieves sings sieving singing sliver slinger slivers slingers sportive sporting sportively sportingly subjective subjecting suggestive suggesting suppressive suppressing votive voting
John Higgins, Shaftesbury, October 2010.