FSC Chief Says Second Tranche of Public Growth Fund Will Be Launched
Summary
- Kim Byoung-hwan, chairman of the Financial Services Commission, said a second tranche of the public-participation Korea Growth Fund will be prepared and launched.
- The public-participation growth fund sold 87%% of its total offering of $436 million on its first day and sold out in five business days.
- The government said it is reviewing an additional supply in the second half after confirming stronger-than-expected demand.
Forecast Trend Report by Period
Financial Services Commission Chairman Kim Byoung-hwan said on May 30 that the government plans to launch an additional tranche of the public-participation Korea Growth Fund after the product sold out just five days after its debut.
Appearing on a program released that day on the YouTube channel SamproTV, Kim said, “I’m mentioning this for the first time, but we will prepare and launch a second tranche” of the public-participation growth fund.
The fund sold 87% of its total offering of 600 billion won ($436 million) on the first day and sold out on May 29, its fifth business day after launch. With demand coming in stronger than expected, the government is reviewing an additional supply for the second half of the year.
Kim said he would provide further details later on the timing and size of the additional offering.
Park Su-rim, Hankyung.com reporter paksr365@hankyung.com
Korea Economic Daily
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