Kiwoom adds $8.4M to National Growth Fund after sellout
What's the deal? Kiwoom SecuritiesDealroom has a profile for this one. Try Dealroom → has secured an additional US$10.1M for the second offering of its retail-participation National Growth Fund, after the initial allocation sold out. The brokerage said the round was fully subscribed by the morning of October 8, prompting it to obtain the extra allocation and begin sales the same day.
How it works: The fund pools money from individual investors and channels it into domestic sectors identified as future growth drivers. Investors who subscribe through a dedicated account and hold for at least three years can claim an income deduction of up to 40% of the amount invested, with dividend income taxed separately at 9.9%.
The fine print: It is a closed-end public offering with a five-year maturity and no early redemption. Transferring a holding within three years claws back the tax break. The fund plans to seek an exchange listing within 90 days of establishment, though it carries a Grade 1 risk rating — classified as "very high risk."
Why now? Subscriptions run through 17:00 on October 15 via Kiwoom's mobile trading app, but sales may close early if the allocation limit is exhausted. "We will use the additional US$10.1M we were allocated to meet subscription demand," a Kiwoom official said.
The signal: Kiwoom is not alone — KB Asset ManagementDealroom has a profile for this one. Try Dealroom → opened its own second National Growth Fund to retail investors the same day. The quick sellouts suggest strong appetite among Korean individual investors for tax-advantaged vehicles tied to national growth sectors.
Read more: en.sedaily.com
Image credit: Generated with Gemini
