Lee Eog-weon, Chairperson of the Financial Services Commission (FSC), said on the 22nd that the Public Participation Public Growth Fund (Public Participation Growth Fund) will be an attractive investment opportunity for the public to share in the fruits of growth in future strategic industries, and will serve as a platform for mutual growth that smoothly supplies the capital needed for growth to advanced strategic industry corporations.
The Chairperson visited the NH Nonghyup Bank Government Complex Seoul branch that day, subscribed to the Public Participation Growth Fund, and said this.
The Chairperson said, "Amid fierce global competition in advanced strategic industry technologies, the Public Growth Fund is a future industry investment platform to overcome the structural challenges facing our economy," adding, "As the government, policy finance, and private capital join forces to supply large-scale venture capital, it will become a key means for a great leap forward in our economy."
The Public Participation Growth Fund will be sold on a first-come, first-served basis for three weeks starting that day in the amount of 600 billion won. It will pool 600 billion won in public funds and 120 billion won in fiscal funds to create a parent fund, which will then be operated by investing in 10 sub-funds.
The Chairperson personally experienced the entire fund subscription process that general investors go through, including investor risk profile analysis and confirmation of key fund matters (prospectus, terms and conditions, etc.). After reviewing the convenience and difficulties in the subscription procedures, the Chairperson signed the fund subscription documents.
The Chairperson asked each distributor to make every effort to prevent misselling at the point of sale and said the government will also monitor on-site conditions in real time during the fund subscription process to minimize inconvenience to the public and will promptly resolve difficulties when necessary.
The Chairperson also emphasized that the government will closely monitor, together with relevant agencies, the fund's management and investment execution so the Public Participation Growth Fund can swiftly supply capital to advanced strategic industries.