The financial authorities have begun preparations to add sales of the public participation-type Public Growth Fund as early as September.
According to the financial authorities on the 7th, the Financial Services Commission has recently been gathering industry feedback on additional supply from banks and securities firms that took part in selling the public participation growth fund. On its first day, 87% of the total 600 billion won in offerings of the public participation growth fund was sold. It sold out on the 29th of last month, the fifth trading day. After confirming strong demand, the government decided to add supply in the second half.
Lee Eog-weon, chair of the Financial Services Commission, also said on a YouTube channel, 3PRO TV, on the 30th of last month, "We will prepare and launch the second batch of the public participation growth fund." The Financial Services Commission (FSC) is expected to announce plans related to the second sales round after the first sales end on the 11th. The sales size is expected to be decided considering additional income tax deductions and extra fiscal inputs.
Once the volume and supply method are set, the second fund is expected to launch around September after a public offering. There is also talk that the sales method could be adjusted. During the first sales, banks sold out their on-site allocations in two days, but securities firms, with relatively less accessible branches, had on-site inventory remaining for five days. Proposals include increasing the online share for securities firms and boosting offline sales allocations for banks.