New Deal Fund Sold Out for 146 Billion Won... "Cancellations Available for Subscription"

Deputy Prime Minister for Economy Hong Nam-ki and Hong Ik-pyo, Policy Committee Chairman of the Democratic Party of Korea, visited the New Deal Fund sales counter at the Korea Development Bank in Yeouido, Seoul, on the 1st, and talked with the fund sales staff. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Park Sun-mi] The scheduled sales volume of the 국민참여형 New Deal Fund has been fully sold out.

On the 6th, KDB Industrial Bank, one of the lead institutions for the policy-type New Deal Fund, announced that approximately 146 billion KRW worth of 국민참여형 New Deal Fund sales, which began on the 29th of last month, were completely sold out as of the previous day. However, subscriptions canceled during the fund sales period (3.29?4.16) can still be made until the end of the sales period.

The New Deal Fund’s sub-fund will be established on the 21st. Investment in New Deal companies is progressing rapidly, and the sub-fund managers will focus on discovering and investing in outstanding companies in New Deal sectors with high growth potential. They plan to ensure that the growth of industries and companies in the digital and green New Deal sectors translates into fund returns.

An official from the Industrial Bank stated, "The early sell-out is an opportunity to confirm the high expectations of the public for the success of the Korean New Deal." They added, "To meet these expectations, the lead institutions and fund managers will ensure solid investment execution and thorough post-management so that the policy-type New Deal Fund serves as a catalyst supporting the leap to a leading nation."

They continued, "We will closely monitor the entire sub-fund management process together with the five fund managers," emphasizing, "We will also make our best efforts in post-management to ensure that this New Deal Fund is operated in accordance with its policy objectives."

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