Shinhan Investment & Securities said on the 9th that it launched its first commercial paper product, "Shinhan Premier Commercial Paper."
Shinhan Premier commercial paper is a bill with a maturity within one year issued directly by Shinhan Investment & Securities, and it pays principal and interest according to the agreed yield. The minimum subscription amount is 1 million won, and it is for individual customers.
The commercial paper comes in on-demand, contracted, and special-offer types. The on-demand type offers a pre-tax annual rate of 2.50%, and the contracted type applies a pre-tax annual rate of 2.30% to 3.30% depending on the subscription period. The 2030 special-offer product has a pre-tax annual rate of 4.0%, and the target customers are youths aged 15 to 39. This product has a limit of 20 billion won, and sales will end early when the limit is reached.
Shinhan Investment & Securities held a commemorative event at the sales division to mark the first launch of its commercial paper that day. Jin Ok-dong, chairman of Shinhan Financial Group, and Lee Sun-hoon, CEO of Shinhan Investment & Securities, subscribed to the No. 2 and No. 3 commercial papers and held a ceremony wishing for K-growth. The first subscriber is actor Park Bo-gum, the main model of Shinhan Financial.
Jin Ok-dong, chairman of Shinhan Financial Group, said, "Shinhan Financial Group is actively practicing productive finance under the banner of 'K-growth, K-finance,' and we expect Shinhan Investment & Securities' commercial paper to serve as a solid asset management option for customers and, as a base for supplying venture capital to our economy, to become a primer for the growth of innovative companies."
Lee Sun-hoon, CEO of Shinhan Investment & Securities, said, "From the first year of the commercial paper launch, we plan to practice genuine productive finance by investing 35% of raised funds in venture capital, and we will do our utmost in risk management with investor protection as the top priority."