Chairperson Lee Eog-weon of the Financial Services Commission (FSC) said the Public Growth Fund for public participation, which sold out five days after launch, will be supplied additionally.
Appearing in a video released that day on the YouTube channel Sampro TV, the Chairperson said, "This is the first time I'm saying this, but we will prepare a second tranche of the Public Growth Fund for public participation and launch it."
However, Lee explained, "We will consider the size and timing further and provide additional details."
The Public Growth Fund for public participation invests in corporations related to 12 advanced strategic industries, including semiconductors, AI (artificial intelligence), and biotech. Although there is a risk of principal loss, the government takes on about 20% of losses first and offers up to a 40% income tax deduction, drawing strong interest right after launch.
On the first day of launch alone, 87% of the total 600 billion won on offer was sold, and all units sold out on the 29th, five trading days after launch. With demand exceeding expectations, the government is reportedly reviewing an additional supply in the second half.
Regarding why Lee personally subscribed to the Public Growth Fund for public participation on the first day of launch, Lee said, "The Director General in charge wrote on the internal anonymous board, 'It would be good if FSC staff could yield a bit so that the public can have the opportunity if things go well,' but from the perspective of the person who created it, I judged it was better to subscribe as a matter of responsibility," adding, "If I had been just a little later, I might not have been able to subscribe."
On the recent KOSPI crossing the 8,000 level, Lee said, "This is truly a turning point and the start of a transition," adding, "One chapter is ending and a new chapter is opening, completely changing the phase."
Lee added, "If it was 'Korea discount' before, now there is a new task of moving toward a 'Korea premium' and building a global best capital market," and said that, to attract foreign investors, authorities are preparing "Korea Week" in October, a monthlong intensive investor relations (IR) program focusing on domestic corporations.