The Financial Services Commission said on the 22nd that the remaining allotment on the first day of Public Growth Fund sales was tallied at 77.65 billion won. Of the 600 billion won set as the three-week sales target, 87% has been used up.

The remaining allotment at 10 banks was tallied at 6.16 billion won. Except for Woori Bank (60 million won), Industrial Bank of Korea (IBK) (4.1 billion won), and Kyongnam Bank (2 billion won), all allotments held by the other seven firms, including NongHyup, Shinhan, Hana, and KB Kookmin Bank, sold out.

Customers sign up for the Public Growth Fund at the Woori Bank headquarters branch in Jung District, Seoul, on the morning of the 22nd. /Courtesy of News1

The remaining allotment at 15 securities firms was tallied at 71.49 billion won. All allotments held by Daishin Securities, Mirae Asset Securities, Kiwoom Securities, and Korea Investment & Securities Co. were used up. Samsung Securities had the most remaining at 26.2 billion won, followed by KB Securities (9.7 billion won) and Yuanta Securities Korea (7.8 billion won).

The Financial Services Commission (FSC) said that additional creation of the fund would require a review of fiscal conditions such as budget securing and tax revenue impact. It added that starting this year, it plans to raise 600 billion won annually for the next five years, totaling 3 trillion won for the Public Growth Fund.

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