Why young Koreans are less interested in $420 mil. state-backed equity fund
Young Koreans showed relatively little interest in the country's state-backed growth fund launched earlier this year, despite strong overall demand for the 600 billion-won ($420 million) fund, data showed Monday. According to data obtained by Rep. Kim Sang-hoon of the main opposition People Power Party from the Financial Services Commission (FSC), the first round of the National Growth Fund…
The National Growth Fund, a state-backed equity fund worth $420 million, has seen relatively low interest from young Koreans despite strong overall demand, according to data from the Financial Services Commission (FSC). When the fund launched on May 22, the first round attracted 30,038 subscribers and sold out within a week. The largest group of investors were those in their 50s, with 10,173 individuals investing a total of 231.6 billion won, which constituted 33.9% of all subscribers and 38.7% of total investment.
In contrast, only 5,852 investors in their 20s and 30s contributed 80.2 billion won, making up 19.5% of subscribers and 13.4% of investment. Investors aged 40 and above together invested 170.6 billion won, while those aged 60 and above had the highest average investment of 23.36 million won.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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