Mirae Asset, Samsung, and KB Asset Management Selected as Managers for the National Growth Fund for Citizen Participation

Nine Firms Applied; Three Selected
Investment Products for Citizens to Launch by Late May

The Financial Services Commission announced on the 13th that it has selected three asset management firms—Mirae Asset Global Investments, Samsung Asset Management, and KB Asset Management—as the public fund managers for the National Growth Fund for Citizen Participation.

On the 11th, Lee Okwon, Chairman of the Financial Services Commission, Seo Jungjin, Chairman of Celltrion, Park Hyunju, Chairman of Mirae Asset, and other key participants attending the 'National Growth Fund Strategy Committee Meeting' held at the Industrial Bank of Korea in Yeouido, Seoul, are performing a commemorative ceremony for the launch event. 2025.12.11 Photo by Dongju Yoon

A total of nine companies applied for this public fund manager selection process. An evaluation committee comprised of private sector experts conducted a comprehensive assessment of each firm’s fund management and sales strategies, assets under management, and expertise, ultimately choosing the final three firms.

The National Growth Fund for Citizen Participation is designed to allow citizens to directly participate in investments that foster advanced strategic industries and to share in the resulting economic growth. The fund is structured as a private indirect public offering fund, where citizen funds are pooled into a master fund, which then invests in multiple sub-funds (private equity funds).

The selected public fund managers will be responsible for raising citizen funds and establishing the master fund. They will also collaborate with the Industrial Bank of Korea (which provides contributions for advanced industry funds) and Korea Growth Investment Corporation (the public master fund manager) to select sub-fund managers for investments in advanced industries. Additionally, they will oversee post-investment management, including monitoring the assets of the sub-funds.

In relation to this, the Financial Services Commission is currently reviewing, together with relevant agencies, the criteria for selecting sub-funds in order to strike a balance between the policy objective of fostering advanced industries and the profitability and stability of the citizen participation fund.

The Financial Services Commission plans to announce the detailed operation plan for the National Growth Fund for Citizen Participation next week and to complete the selection of sub-fund managers by next month. Afterward, the public fund managers will finalize distribution channel agreements and submit securities registration statements, with the goal of launching investment products for the general public by the end of May.

This content was produced with the assistance of AI translation services.