FSC Chief Says Second Tranche of Retail Growth Fund Will Be Launched

Kim Byung-hwan, chairman of South Korea’s Financial Services Commission, said on May 30 that the government will supply more of its retail National Growth Fund after the product sold out in five business days following its launch.

Speaking on YouTube channel SamproTV in a video released that day, Kim said a second tranche of the retail National Growth Fund is being prepared for launch.

The fund sold 87% of its total 600 billion won ($434 million) offering on its first day. It sold out on May 29, its fifth business day after launch. Higher-than-expected demand has led the government to consider an additional supply in the second half of the year.

Kim said he would provide more details later on the timing and size of the additional offering.

Park Su-rim, Hankyung.com reporter paksr365@hankyung.com