35.7% of total 600 billion won allocation sold
About 230 billion won in low-income tranche remains
![Customers receive fund investment consultations at a Shinhan Bank branch in Jung-gu, Seoul. [Herald DB]](https://wimg.heraldcorp.com/news/cms/2026/09/30/news-p.v1.20260522.7cb2679e44a046b690eef132b3c44ead_P1.jpg)
The second People's Participation Growth Fund sold just over 200 billion won ($147 million) on its first day of sales Wednesday.
The Financial Services Commission said approximately 214 billion won, or 35.7 percent of the fund's total 600 billion won offering, had been sold.
The figure marks a sharp contrast with the first People's Participation Growth Fund, which sold 87 percent of its allocation on its opening day. The slower pace reflects the exclusion of first-round subscribers and a higher share of the offering reserved for low-income investors.
The FSC set aside 300 billion won — 50 percent of the total — as a low-income exclusive tranche for the first five business days. Online sales were also capped, with banks limited to 40 percent and brokerages to 60 percent of their respective online quotas.
KB Securities, NH Investment & Securities and Mirae Asset Securities all exhausted their online sales limits Wednesday. Only in-person sales will be available at the three brokerages through Oct. 7, after which online and offline channels will open simultaneously.
The 10 participating banks have a combined remaining allocation of 266.29 billion won — 184.35 billion won through offline channels and 81.93 billion won online. The 14 participating brokerages have 119.71 billion won left, comprising 69.1 billion won offline and 50.6 billion won online.
Of the total remaining supply, 229.12 billion won is reserved for the low-income tranche. Banks have 147.39 billion won left in that category, while brokerages have 81.73 billion won.
The second People's Participation Growth Fund will be sold on a first-come, first-served basis at banks and brokerages for 10 business days through Oct. 15. Investors are eligible for an income deduction of up to 40 percent of their investment and a separate dividend income tax rate of 9.9 percent. Should losses occur, government fiscal resources and other subordinate parties will absorb between 18.8 and 23.3 percent of any losses on a priority basis.
soho0902@heraldcorp.com
