Cheong Wa Dae said the "public participation-type Public Growth Fund," launched on the 22nd, "is being sold quickly, mainly online, amid strong public interest." It also said that, especially from the first day of the launch, a rush of subscribers could lead to an early sellout of allocations at some financial companies.
Cheong Wa Dae said that "the Public Growth Fund can also be subscribed to at offline branches," and that "it is scheduled to be sold for the next three weeks, but the allocations at some financial companies could be exhausted early." According to Cheong Wa Dae, President Lee Jae-myung will also subscribe to the Public Growth Fund next week and plans to encourage participation by the general public.
The Public Growth Fund is a policy fund designed with the aim of allowing the public to invest directly in, and share in the results of, 12 advanced strategic industries including artificial intelligence (AI), semiconductors, biotech, robots, and secondary batteries. This year's retail sales amount totals 60 billion won, and a total of 3 trillion won will be raised over the next five years. It is structured as a "private fund of funds offered publicly," pooling 600 billion won in public money and 120 billion won in fiscal funds to create a parent fund that invests in 10 sub-funds.
Starting today, it will be sold on a first-come, first-served basis for three weeks through online and offline branches of 25 major banks and securities firms. Of the total 600 billion won, 120 billion won is allocated exclusively for low- and middle-income people, with priority subscription benefits for the first two weeks.
Most banks and securities firms set the minimum subscription amount at 1 million won, while five firms—Meritz, Shinhan Investment, iM, Yuanta, and Hanwha Investment & Securities—allow subscriptions starting from 100,000 won. The per-person subscription limit is 100 million won per year and up to 200 million won over five years for dedicated accounts. General accounts without tax benefits can invest up to 30 million won per year.