Financial Services Commission Selects Managers for National Growth Fund Ahead of May Launch

The government's financial authority has finalized the asset management firms that will oversee the 'National Participation Type National Growth Fund,' a scheme designed to allow the public to invest, contribute to national economic growth, and potentially earn returns. The fund is scheduled for official launch in May. This participatory fund structure enables ordinary citizens to directly contribute to its capital.

Key investment targets include 12 advanced strategic industries and their related companies, such as semiconductors, secondary batteries, artificial intelligence (AI), defense, and robotics. Sub-funds are required to allocate at least 60% of their capital to these primary investment targets. Of this amount, over 30% must be channeled as new capital to unlisted firms or companies listed on KOSDAQ under the technology special listing program. Investments in KOSPI-listed companies, considered primary investments, will be capped at 10%. Infrastructure investment-type sub-funds can deploy over 60% of their capital into advanced strategic industry-related infrastructure through loans or equity investments.

Sub-fund sizes will range from 40 billion to 120 billion won, to be proposed by asset managers. Approximately 10 sub-funds will be selected, considering past investment performance. Asset managers must contribute 1% of the sub-fund's capital as a subordinate investment.

The FSC is considering a plan to allocate at least 20% of the fund's sales target to low-income individuals.