Korea Development Bank Selects Shinhan Asset Management as Main Fund Manager for Nuclear Power Industry Growth Fund
On May 2, Korea Development Bank announced that it has selected Shinhan Asset Management as the delegated manager for the Nuclear Power Industry Growth Fund's main fund.
Shinhan Asset Management will be entrusted with managing a total of 65 billion KRW, consisting of 35 billion KRW from government funding and 30 billion KRW from Korea Hydro & Nuclear Power.
The selected delegated manager is expected to work with Korea Development Bank to establish detailed plans for creating the 100 billion KRW Nuclear Power Industry Growth Fund, select sub-fund managers, and oversee the investment status of the sub-funds.
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A Korea Development Bank official stated, "With the creation of a policy fund specialized in the nuclear power industry, we expect to see full-scale investment aimed at strengthening the competitiveness of the domestic nuclear power sector, including SMRs (Small Modular Reactors)." The official also added, "We ask for your keen interest in the upcoming public offering for sub-funds under the Nuclear Power Industry Growth Fund."
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