Kwon Daeyoung Enrolls in 2nd National Growth Fund for Public Participation on First Day: “Will Lay Foundation for Mutual Prosperity”

Subscription Opportunity Extended to More Citizens by Restricting First Fund Subscribers

Income Verification Streamlined via Public MyData Services

Kwon Daeyoung: "Closed-End, 5-Year Term with No Principal Guarantee... Customers Must Be

Kwon Dae-young, Vice Chairman of the Financial Services Commission, visited the NH Nonghyup Bank branch at the Seoul Government Complex on September 30 and enrolled in the National Growth Fund for Public Participation.

Yonhap News Agency

After completing his registration, Vice Chairman Kwon remarked, "The National Participation Growth Fund will serve as a meaningful investment opportunity for the public to share in the fruits of future strategic industry growth, while also laying the foundation for mutual prosperity by smoothly supplying necessary funding to advanced strategic industry companies."

Vice Chairman Kwon explained that the reason for expediting the launch of the second fund was, "The fund was first launched in May this year with the goal of raising KRW 600 billion annually for five years, and public demand was extremely high, with approximately 87% of the initial offering sold out on the first day."

He particularly emphasized that the allocation for ordinary citizens has been significantly expanded in the second fund. Vice Chairman Kwon stated, "In order to offer more people the opportunity, we restricted existing subscribers of the first fund from joining the second round." He added, "Since the share of sales to ordinary citizens in the first fund reached about 35%, exceeding the target of 20%, in the second fund, 50% of the shares sold during the first five business days will be preferentially allocated to ordinary citizens."

He also noted that, for greater convenience, income verification documents, which previously had to be submitted directly, can now be submitted electronically through public MyData and similar systems.

Regarding the National Participation Growth Fund, for which sales began today, Vice Chairman Kwon urged distributors to provide customers with sufficiently detailed explanations of the product. He stressed that, although there are certain tax incentives and partial loss protection by government finances, because it is a five-year closed-end (redemption-restricted) product without principal guarantees, all relevant information must be fully communicated to customers onsite to prevent any occurrence of mis-selling.

This content was produced with the assistance of AI translation services.