Second National Growth Fund to Launch in Q3 at a Scale of 600 Billion Won

The Financial Services Commission has decided to launch the second National Participation Growth Fund, worth 600 billion won, in the third quarter. This fund is a product that pools public money to invest in advanced strategic industries such as artificial intelligence and semiconductors. The fund structure will be designed similarly to the first round. Government finances of 120 billion won will be put in as a junior tranche, meaning they will absorb investment loss risks first, and part of the direct investment and infrastructure investment/financing budget will be used. To speed up the launch, the FSC plans to reselect the same fiscal master fund and public fund managers as in the first round, and newly choose 10 subfund managers who will be responsible for actual investment management. The first fund, worth 600 billion won and launched last month, was sold out in just one week, and will begin fullscale operation from the 15th.