{"content_id":"mrl8srd621","slug":"national-growth-fund-second-round-september-30-guide","locale":"en","schema_type":"HowTo","category":"policy_guide","category_name":"Policy Guide","title":"National Growth Fund Round 2: How to Apply from September 30","summary":"National Growth Fund Round 2 will be offered on a first-come, first-served basis from September 30 through October 15, 2026 (South Korea). Before subscribing, check the low-income allocation criteria, dedicated account requirements, income deduction limit, and the restriction on early redemption for 5 years.","sponsorship_disclosure":null,"affiliate_disclosure":null,"commerce_disclosure":null,"author":{"name":"Injoys Editorial Team","url":"https://injoys.com/ko/about"},"key_points":["Check the Round 1 fund's actual investment history and dedicated account enrollment requirements.","Select one of the 24 distributors and check its subscription process.","Prepare to submit a Certificate of Income Verification for ISA Subscription or follow the distributor's simplified income verification process.","Decide how much you can keep invested for 5 years, and review the tax benefits and risk of loss.","Complete your subscription during the sales period and confirm that your funds were actually invested."],"content_markdown":"The second offering of the National Growth Fund will go on sale on a first-come, first-served basis starting September 30, 2026. The fundraising target is KRW 600 billion. If you actually invested in the first offering, you cannot subscribe. A dedicated account is required to receive tax benefits.\n\nThe figures and schedule are based on the Financial Services Commission's announcements on September 8 and September 22, 2026.\n\n## Sales Period for the Second National Growth Fund Offering\n\nThe sales period is from September 30 to October 15, 2026. There are 10 business days of sales in total. Sales may close early if the available amount is fully subscribed.\n\nThe official name of this product is the Public Participation National Growth Fund. It allows the general public to invest indirectly in advanced strategic industries. The second offering is being held because the first product, launched in May 2026, sold out early.\n\n| Item | Details of the Second Offering in 2026 |\n|---|---|\n| Sales period | September 30 to October 15, with early closing if fully subscribed |\n| Amount to be raised from the public | KRW 600 billion |\n| Distributors | 10 banks and 14 securities firms |\n| Sales method | First-come, first-served sales online and at branches |\n| Allocation for lower-income investors | 50%, or KRW 300 billion, during the first 5 business days |\n| Maturity | 5 years, with no early redemption |\n\n## Breakdown by Eligibility Conditions\n\nCheck your actual investment history in the first offering separately from the income requirements. The allocation for lower-income investors is based on income criteria. It is not allocated automatically simply because someone is young.\n\n| Your situation | Condition to check |\n|---|---|\n| You actually invested in the first fund | Subscription to the second offering is restricted |\n| You only opened an account during the first offering | You may subscribe to the second offering if you did not actually invest |\n| You only have earned income | The lower-income threshold is earned income of at most KRW 50 million |\n| You have comprehensive income other than earned income | The lower-income threshold is comprehensive income of at most KRW 38 million |\n| You exceed the lower-income threshold | Consider subscribing through the general allocation |\n| You want tax benefits | Check the eligibility requirements for a dedicated account |\n\nTo open a dedicated account, you must be at least 19 years old, or at least 15 years old with earned income. Also check whether you were subject to comprehensive taxation on financial income from 2023 through 2025. If you were subject to it even once during this period, you are restricted from opening a dedicated account.\n\nYou may also subscribe through a general account without tax benefits. The investment limits differ by account type. The following limits do not mean that investors in the first offering may subscribe again.\n\n| Account type | Investment limit | Tax benefits |\n|---|---|---|\n| Dedicated account | KRW 100 million per year, up to KRW 200 million over 5 years | Apply if requirements are met |\n| General account | KRW 30 million per person per year | Dedicated account tax benefits do not apply |\n\nYou can check the eligibility requirements and account types in the [Financial Services Commission's September 8 sales plan](https://www.fsc.go.kr/no010101/87667).\n\n## Comparison of Sales Methods in the First and Second Weeks\n\nDuring the first week, limits apply to the allocation for lower-income investors and the proportion sold online. The general allocation will also be sold from the first day of sales. During the second week, the remaining amount will be sold without distinguishing between lower-income and general allocations.\n\n| Category | First 5 business days | October 8 to 15 |\n|---|---|---|\n| Lower-income allocation | 50% of the total fundraising amount allocated | Distinction between lower-income and general allocations removed for the remaining amount |\n| Online bank sales | Online proportion capped at 40% | No proportion limit |\n| Online securities firm sales | Online proportion capped at 60% | No proportion limit |\n\nThe limits on online sales are intended to preserve subscription opportunities for branch visitors. They are not rules limiting an individual's investment amount to 40% or 60%. Sales in the second week are possible only if an amount remains available.\n\n## How to Subscribe to the Second National Growth Fund Offering\n\nTo prepare for subscription, check your eligibility and confirm that the investment has actually been completed. Simply opening an account does not complete the fund investment. Check your final subscription details with the distributor.\n\n1. **Check your eligibility** Check whether you actually invested in the first offering. If you want tax benefits, also check the dedicated account requirements.\n2. **Choose a distributor and subscription channel** Check whether the bank or securities firm you plan to use offers the product. Also check the sales hours for online and branch subscriptions.\n3. **Prepare proof of income** Prepare an Income Verification Certificate for ISA Enrollment or its issuance number. You may also use the distributor's simplified income verification process.\n4. **Check the investment amount and product terms** Make sure it is money you can leave untouched for 5 years. Check the prospectus for loss risks, management fees, and commissions.\n5. **Complete the subscription during the sales period** Use a dedicated account to receive tax benefits. After applying, confirm that the investment has actually been completed.\n\n### Do I Have to Submit the Income Verification Certificate Myself?\n\nYou may use a simplified process supported by the distributor. With your consent, proof of income is transmitted through public MyData. Some distributors use other methods to verify the documents electronically.\n\nCheck whether the simplified process is supported for your subscription channel. If you want to submit the certificate yourself, you can check the issuance method through the National Tax Service's Hometax website. Using a certificate intended for ISA enrollment does not mean that you are investing through an ISA account.\n\n### Which Banks and Securities Firms Offer the Product?\n\nThe product is sold by 10 banks and 14 securities firms. Woori Investment \u0026 Securities and Kiwoom Securities are online-only distributors. The minimum subscription amount is either KRW 100,000 or KRW 1 million, depending on the distributor.\n\n| Category | Distributors |\n|---|---|\n| 10 banks | KB Kookmin Bank, IBK Industrial Bank of Korea, NH NongHyup Bank, Shinhan Bank, iM Bank, Woori Bank, Hana Bank, BNK Kyongnam Bank, Kwangju Bank, BNK Busan Bank |\n| 14 securities firms | KB Securities, NH Investment \u0026 Securities, Daishin Securities, Meritz Securities, Mirae Asset Securities, Samsung Securities, Shinhan Securities, iM Securities, Woori Investment \u0026 Securities, Yuanta Securities, Hana Securities, Korea Investment \u0026 Securities, Hanwha Investment \u0026 Securities, Kiwoom Securities |\n\nThe distributors and minimum subscription amounts are based on the [Financial Services Commission's September 22 detailed guidance](https://www.fsc.go.kr/no010101/87766).\n\n## Income Deduction Calculation Example\n\nThe income deduction is calculated by adding the deduction for each investment bracket. The maximum deduction is KRW 18 million. This does not mean that you will receive this amount as a cash refund.\n\n| Investment amount bracket | Deduction rate for the bracket | Maximum deduction for the bracket |\n|---|---|---|\n| At most KRW 30 million | 40% | KRW 12 million |\n| More than KRW 30 million and at most KRW 50 million | 20% | KRW 4 million |\n| More than KRW 50 million and at most KRW 70 million | 10% | KRW 2 million |\n\nAssume that you meet the tax requirements and invest KRW 50 million. The deduction on the first KRW 30 million is KRW 12 million. The deduction on the remaining KRW 20 million is KRW 4 million. The total income deduction is KRW 16 million.\n\nFor an investment of KRW 70 million, the total deduction across all brackets is KRW 18 million. An income deduction reduces the income used to calculate tax. Your actual tax savings depend on your tax base and other deductions.\n\nDividend income is subject to separate taxation at 9.9%, including local tax. This applies for up to 5 years from the investment date. The 9.9% is the tax rate on dividend income, not the rate of return.\n\nThe deduction rates and separate taxation details are also available in the [Financial Services Commission's infographic on the second fund offering](https://www.fsc.go.kr/no040000?cnId=3428\u0026curPage=2\u0026pastPage=2\u0026srchKey=\u0026srchText=).\n\n## Where Is the Investment Money Used?\n\nThe amount raised from the public is combined with government funding and invested in advanced strategic industries. The public offering fund managers are Mirae Asset, Samsung, and KB Asset Management. The money is allocated to 10 subfund managers responsible for making the actual investments.\n\n| Category | Amount raised from the public | Subordinate government funding | Total |\n|---|---:|---:|---:|\n| Second fund offering | KRW 600 billion | KRW 120 billion | KRW 720 billion |\n| First and second offerings combined | KRW 1.2 trillion | KRW 240 billion | KRW 1.44 trillion |\n\nEach subfund invests at least 60% of its committed capital in its primary targets. These targets are companies in advanced strategic industries and related companies. AI and semiconductors are included.\n\nA subordinate contribution means that government funding absorbs losses first under the predetermined structure. It does not guarantee investors' principal. Check the prospectus for the product you plan to subscribe to for details on how losses are allocated.\n\n\u003e This is an investment product for which principal is not guaranteed\n\nThe wording above appears in the Financial Services Commission's [September 23, 2026 infographic on the second Public Participation Growth Fund](https://fsc.go.kr/no040101?cnId=3253\u0026curPage=1\u0026pastPage=25\u0026srchKey=\u0026srchText=).\n\n## Comparison of the 3-Year Transfer Rule and 5-Year Maturity\n\nThe clawback rule for transfers within 3 years is separate from the 5-year maturity. Early redemption is not permitted simply because 3 years have passed. If you may need to recover your money before maturity, check this distinction first.\n\n| Category | Meaning | What to check |\n|---|---|---|\n| Transfer within 3 years after investment | Subject to clawback of an amount equivalent to the tax reduction | Existing tax savings may be reduced |\n| 5-year maturity | Investment period during which early redemption is prohibited | Redemption remains unavailable even after 3 years |\n| Sale after listing | Sale of your holdings to another investor | A buyer and sale price are not guaranteed |\n| Separate taxation of dividend income | Applies for up to 5 years from the investment date | The tax rate period is separate from the ability to recover cash |\n\nRedemption is the process of asking the fund to return your investment. A transfer is a transaction in which you sell your holdings to another investor. Although redemption is unavailable for this product, a transfer is possible after listing.\n\nHowever, if trading volume is low, the sale may not be completed. The trading price may also be lower than the fund's net asset value. Keep money needed for living expenses or planned major expenditures separate.\n\n## Common Mistakes Before Subscribing\n\nDistinguishing between the fundraising amount and individual benefits can reduce misunderstandings. The government's contribution is not financial assistance paid to individuals. Also distinguish between the deduction limit and the expected tax refund.\n\n| Common misunderstanding | Correct meaning |\n|---|---|\n| You receive a refund of up to KRW 18 million | This is the maximum income deduction, and actual tax savings vary by individual |\n| Principal is guaranteed because the government participates | Investors may still incur losses despite subordinate government funding |\n| You cannot subscribe again if you opened an account for the first offering | You may subscribe to the second offering if you only opened an account and did not actually invest |\n| Young people automatically receive the lower-income allocation | You must meet the lower-income criteria |\n| You can freely redeem after holding for 3 years | Early redemption is not permitted for 5 years |\n| You can always subscribe through October 15 | Sales may close early if the available amount is fully subscribed |","content_html":"\u003cp\u003eThe second offering of the National Growth Fund will go on sale on a first-come, first-served basis starting September 30, 2026. The fundraising target is KRW 600 billion. If you actually invested in the first offering, you cannot subscribe. A dedicated account is required to receive tax benefits.\u003c/p\u003e\n\u003cp\u003eThe figures and schedule are based on the Financial Services Commission's announcements on September 8 and September 22, 2026.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#sales-period-for-the-second-national-growth-fund-offering\" class=\"anchor\" id=\"sales-period-for-the-second-national-growth-fund-offering\"\u003e\u003c/a\u003eSales Period for the Second National Growth Fund Offering\u003c/h2\u003e\n\u003cp\u003eThe sales period is from September 30 to October 15, 2026. There are 10 business days of sales in total. Sales may close early if the available amount is fully subscribed.\u003c/p\u003e\n\u003cp\u003eThe official name of this product is the Public Participation National Growth Fund. It allows the general public to invest indirectly in advanced strategic industries. The second offering is being held because the first product, launched in May 2026, sold out early.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eItem\u003c/th\u003e\n\u003cth\u003eDetails of the Second Offering in 2026\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eSales period\u003c/td\u003e\n\u003ctd data-label=\"Details of the Second Offering in 2026\"\u003eSeptember 30 to October 15, with early closing if fully subscribed\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eAmount to be raised from the public\u003c/td\u003e\n\u003ctd data-label=\"Details of the Second Offering in 2026\"\u003eKRW 600 billion\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eDistributors\u003c/td\u003e\n\u003ctd data-label=\"Details of the Second Offering in 2026\"\u003e10 banks and 14 securities firms\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eSales method\u003c/td\u003e\n\u003ctd data-label=\"Details of the Second Offering in 2026\"\u003eFirst-come, first-served sales online and at branches\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eAllocation for lower-income investors\u003c/td\u003e\n\u003ctd data-label=\"Details of the Second Offering in 2026\"\u003e50%, or KRW 300 billion, during the first 5 business days\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eMaturity\u003c/td\u003e\n\u003ctd data-label=\"Details of the Second Offering in 2026\"\u003e5 years, with no early redemption\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003ch2\u003e\n\u003ca href=\"#breakdown-by-eligibility-conditions\" class=\"anchor\" id=\"breakdown-by-eligibility-conditions\"\u003e\u003c/a\u003eBreakdown by Eligibility Conditions\u003c/h2\u003e\n\u003cp\u003eCheck your actual investment history in the first offering separately from the income requirements. The allocation for lower-income investors is based on income criteria. It is not allocated automatically simply because someone is young.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eYour situation\u003c/th\u003e\n\u003cth\u003eCondition to check\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou actually invested in the first fund\u003c/td\u003e\n\u003ctd data-label=\"Condition to check\"\u003eSubscription to the second offering is restricted\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou only opened an account during the first offering\u003c/td\u003e\n\u003ctd data-label=\"Condition to check\"\u003eYou may subscribe to the second offering if you did not actually invest\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou only have earned income\u003c/td\u003e\n\u003ctd data-label=\"Condition to check\"\u003eThe lower-income threshold is earned income of at most KRW 50 million\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou have comprehensive income other than earned income\u003c/td\u003e\n\u003ctd data-label=\"Condition to check\"\u003eThe lower-income threshold is comprehensive income of at most KRW 38 million\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou exceed the lower-income threshold\u003c/td\u003e\n\u003ctd data-label=\"Condition to check\"\u003eConsider subscribing through the general allocation\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Your situation\"\u003eYou want tax benefits\u003c/td\u003e\n\u003ctd data-label=\"Condition to check\"\u003eCheck the eligibility requirements for a dedicated account\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eTo open a dedicated account, you must be at least 19 years old, or at least 15 years old with earned income. Also check whether you were subject to comprehensive taxation on financial income from 2023 through 2025. If you were subject to it even once during this period, you are restricted from opening a dedicated account.\u003c/p\u003e\n\u003cp\u003eYou may also subscribe through a general account without tax benefits. The investment limits differ by account type. The following limits do not mean that investors in the first offering may subscribe again.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eAccount type\u003c/th\u003e\n\u003cth\u003eInvestment limit\u003c/th\u003e\n\u003cth\u003eTax benefits\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Account type\"\u003eDedicated account\u003c/td\u003e\n\u003ctd data-label=\"Investment limit\"\u003eKRW 100 million per year, up to KRW 200 million over 5 years\u003c/td\u003e\n\u003ctd data-label=\"Tax benefits\"\u003eApply if requirements are met\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Account type\"\u003eGeneral account\u003c/td\u003e\n\u003ctd data-label=\"Investment limit\"\u003eKRW 30 million per person per year\u003c/td\u003e\n\u003ctd data-label=\"Tax benefits\"\u003eDedicated account tax benefits do not apply\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eYou can check the eligibility requirements and account types in the \u003ca href=\"https://www.fsc.go.kr/no010101/87667\"\u003eFinancial Services Commission's September 8 sales plan\u003c/a\u003e.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#comparison-of-sales-methods-in-the-first-and-second-weeks\" class=\"anchor\" id=\"comparison-of-sales-methods-in-the-first-and-second-weeks\"\u003e\u003c/a\u003eComparison of Sales Methods in the First and Second Weeks\u003c/h2\u003e\n\u003cp\u003eDuring the first week, limits apply to the allocation for lower-income investors and the proportion sold online. The general allocation will also be sold from the first day of sales. During the second week, the remaining amount will be sold without distinguishing between lower-income and general allocations.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eFirst 5 business days\u003c/th\u003e\n\u003cth\u003eOctober 8 to 15\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eLower-income allocation\u003c/td\u003e\n\u003ctd data-label=\"First 5 business days\"\u003e50% of the total fundraising amount allocated\u003c/td\u003e\n\u003ctd data-label=\"October 8 to 15\"\u003eDistinction between lower-income and general allocations removed for the remaining amount\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eOnline bank sales\u003c/td\u003e\n\u003ctd data-label=\"First 5 business days\"\u003eOnline proportion capped at 40%\u003c/td\u003e\n\u003ctd data-label=\"October 8 to 15\"\u003eNo proportion limit\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eOnline securities firm sales\u003c/td\u003e\n\u003ctd data-label=\"First 5 business days\"\u003eOnline proportion capped at 60%\u003c/td\u003e\n\u003ctd data-label=\"October 8 to 15\"\u003eNo proportion limit\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe limits on online sales are intended to preserve subscription opportunities for branch visitors. They are not rules limiting an individual's investment amount to 40% or 60%. Sales in the second week are possible only if an amount remains available.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#how-to-subscribe-to-the-second-national-growth-fund-offering\" class=\"anchor\" id=\"how-to-subscribe-to-the-second-national-growth-fund-offering\"\u003e\u003c/a\u003eHow to Subscribe to the Second National Growth Fund Offering\u003c/h2\u003e\n\u003cp\u003eTo prepare for subscription, check your eligibility and confirm that the investment has actually been completed. Simply opening an account does not complete the fund investment. Check your final subscription details with the distributor.\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003e\n\u003cstrong\u003eCheck your eligibility\u003c/strong\u003e Check whether you actually invested in the first offering. If you want tax benefits, also check the dedicated account requirements.\u003c/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eChoose a distributor and subscription channel\u003c/strong\u003e Check whether the bank or securities firm you plan to use offers the product. Also check the sales hours for online and branch subscriptions.\u003c/li\u003e\n\u003cli\u003e\n\u003cstrong\u003ePrepare proof of income\u003c/strong\u003e Prepare an Income Verification Certificate for ISA Enrollment or its issuance number. You may also use the distributor's simplified income verification process.\u003c/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCheck the investment amount and product terms\u003c/strong\u003e Make sure it is money you can leave untouched for 5 years. Check the prospectus for loss risks, management fees, and commissions.\u003c/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eComplete the subscription during the sales period\u003c/strong\u003e Use a dedicated account to receive tax benefits. After applying, confirm that the investment has actually been completed.\u003c/li\u003e\n\u003c/ol\u003e\n\u003ch3\u003e\n\u003ca href=\"#do-i-have-to-submit-the-income-verification-certificate-myself\" class=\"anchor\" id=\"do-i-have-to-submit-the-income-verification-certificate-myself\"\u003e\u003c/a\u003eDo I Have to Submit the Income Verification Certificate Myself?\u003c/h3\u003e\n\u003cp\u003eYou may use a simplified process supported by the distributor. With your consent, proof of income is transmitted through public MyData. Some distributors use other methods to verify the documents electronically.\u003c/p\u003e\n\u003cp\u003eCheck whether the simplified process is supported for your subscription channel. If you want to submit the certificate yourself, you can check the issuance method through the National Tax Service's Hometax website. Using a certificate intended for ISA enrollment does not mean that you are investing through an ISA account.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#which-banks-and-securities-firms-offer-the-product\" class=\"anchor\" id=\"which-banks-and-securities-firms-offer-the-product\"\u003e\u003c/a\u003eWhich Banks and Securities Firms Offer the Product?\u003c/h3\u003e\n\u003cp\u003eThe product is sold by 10 banks and 14 securities firms. Woori Investment \u0026amp; Securities and Kiwoom Securities are online-only distributors. The minimum subscription amount is either KRW 100,000 or KRW 1 million, depending on the distributor.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eDistributors\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003e10 banks\u003c/td\u003e\n\u003ctd data-label=\"Distributors\"\u003eKB Kookmin Bank, IBK Industrial Bank of Korea, NH NongHyup Bank, Shinhan Bank, iM Bank, Woori Bank, Hana Bank, BNK Kyongnam Bank, Kwangju Bank, BNK Busan Bank\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003e14 securities firms\u003c/td\u003e\n\u003ctd data-label=\"Distributors\"\u003eKB Securities, NH Investment \u0026amp; Securities, Daishin Securities, Meritz Securities, Mirae Asset Securities, Samsung Securities, Shinhan Securities, iM Securities, Woori Investment \u0026amp; Securities, Yuanta Securities, Hana Securities, Korea Investment \u0026amp; Securities, Hanwha Investment \u0026amp; Securities, Kiwoom Securities\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe distributors and minimum subscription amounts are based on the \u003ca href=\"https://www.fsc.go.kr/no010101/87766\"\u003eFinancial Services Commission's September 22 detailed guidance\u003c/a\u003e.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#income-deduction-calculation-example\" class=\"anchor\" id=\"income-deduction-calculation-example\"\u003e\u003c/a\u003eIncome Deduction Calculation Example\u003c/h2\u003e\n\u003cp\u003eThe income deduction is calculated by adding the deduction for each investment bracket. The maximum deduction is KRW 18 million. This does not mean that you will receive this amount as a cash refund.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eInvestment amount bracket\u003c/th\u003e\n\u003cth\u003eDeduction rate for the bracket\u003c/th\u003e\n\u003cth\u003eMaximum deduction for the bracket\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Investment amount bracket\"\u003eAt most KRW 30 million\u003c/td\u003e\n\u003ctd data-label=\"Deduction rate for the bracket\"\u003e40%\u003c/td\u003e\n\u003ctd data-label=\"Maximum deduction for the bracket\"\u003eKRW 12 million\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Investment amount bracket\"\u003eMore than KRW 30 million and at most KRW 50 million\u003c/td\u003e\n\u003ctd data-label=\"Deduction rate for the bracket\"\u003e20%\u003c/td\u003e\n\u003ctd data-label=\"Maximum deduction for the bracket\"\u003eKRW 4 million\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Investment amount bracket\"\u003eMore than KRW 50 million and at most KRW 70 million\u003c/td\u003e\n\u003ctd data-label=\"Deduction rate for the bracket\"\u003e10%\u003c/td\u003e\n\u003ctd data-label=\"Maximum deduction for the bracket\"\u003eKRW 2 million\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eAssume that you meet the tax requirements and invest KRW 50 million. The deduction on the first KRW 30 million is KRW 12 million. The deduction on the remaining KRW 20 million is KRW 4 million. The total income deduction is KRW 16 million.\u003c/p\u003e\n\u003cp\u003eFor an investment of KRW 70 million, the total deduction across all brackets is KRW 18 million. An income deduction reduces the income used to calculate tax. Your actual tax savings depend on your tax base and other deductions.\u003c/p\u003e\n\u003cp\u003eDividend income is subject to separate taxation at 9.9%, including local tax. This applies for up to 5 years from the investment date. The 9.9% is the tax rate on dividend income, not the rate of return.\u003c/p\u003e\n\u003cp\u003eThe deduction rates and separate taxation details are also available in the \u003ca href=\"https://www.fsc.go.kr/no040000?cnId=3428\u0026amp;curPage=2\u0026amp;pastPage=2\u0026amp;srchKey=\u0026amp;srchText=\"\u003eFinancial Services Commission's infographic on the second fund offering\u003c/a\u003e.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#where-is-the-investment-money-used\" class=\"anchor\" id=\"where-is-the-investment-money-used\"\u003e\u003c/a\u003eWhere Is the Investment Money Used?\u003c/h2\u003e\n\u003cp\u003eThe amount raised from the public is combined with government funding and invested in advanced strategic industries. The public offering fund managers are Mirae Asset, Samsung, and KB Asset Management. The money is allocated to 10 subfund managers responsible for making the actual investments.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eAmount raised from the public\u003c/th\u003e\n\u003cth\u003eSubordinate government funding\u003c/th\u003e\n\u003cth\u003eTotal\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eSecond fund offering\u003c/td\u003e\n\u003ctd data-label=\"Amount raised from the public\"\u003eKRW 600 billion\u003c/td\u003e\n\u003ctd data-label=\"Subordinate government funding\"\u003eKRW 120 billion\u003c/td\u003e\n\u003ctd data-label=\"Total\"\u003eKRW 720 billion\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eFirst and second offerings combined\u003c/td\u003e\n\u003ctd data-label=\"Amount raised from the public\"\u003eKRW 1.2 trillion\u003c/td\u003e\n\u003ctd data-label=\"Subordinate government funding\"\u003eKRW 240 billion\u003c/td\u003e\n\u003ctd data-label=\"Total\"\u003eKRW 1.44 trillion\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eEach subfund invests at least 60% of its committed capital in its primary targets. These targets are companies in advanced strategic industries and related companies. AI and semiconductors are included.\u003c/p\u003e\n\u003cp\u003eA subordinate contribution means that government funding absorbs losses first under the predetermined structure. It does not guarantee investors' principal. Check the prospectus for the product you plan to subscribe to for details on how losses are allocated.\u003c/p\u003e\n\u003cblockquote\u003e\n\u003cp\u003eThis is an investment product for which principal is not guaranteed\u003c/p\u003e\n\u003c/blockquote\u003e\n\u003cp\u003eThe wording above appears in the Financial Services Commission's \u003ca href=\"https://fsc.go.kr/no040101?cnId=3253\u0026amp;curPage=1\u0026amp;pastPage=25\u0026amp;srchKey=\u0026amp;srchText=\"\u003eSeptember 23, 2026 infographic on the second Public Participation Growth Fund\u003c/a\u003e.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#comparison-of-the-3-year-transfer-rule-and-5-year-maturity\" class=\"anchor\" id=\"comparison-of-the-3-year-transfer-rule-and-5-year-maturity\"\u003e\u003c/a\u003eComparison of the 3-Year Transfer Rule and 5-Year Maturity\u003c/h2\u003e\n\u003cp\u003eThe clawback rule for transfers within 3 years is separate from the 5-year maturity. Early redemption is not permitted simply because 3 years have passed. If you may need to recover your money before maturity, check this distinction first.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eMeaning\u003c/th\u003e\n\u003cth\u003eWhat to check\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eTransfer within 3 years after investment\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eSubject to clawback of an amount equivalent to the tax reduction\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eExisting tax savings may be reduced\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003e5-year maturity\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eInvestment period during which early redemption is prohibited\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eRedemption remains unavailable even after 3 years\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eSale after listing\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eSale of your holdings to another investor\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eA buyer and sale price are not guaranteed\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eSeparate taxation of dividend income\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eApplies for up to 5 years from the investment date\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eThe tax rate period is separate from the ability to recover cash\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eRedemption is the process of asking the fund to return your investment. A transfer is a transaction in which you sell your holdings to another investor. Although redemption is unavailable for this product, a transfer is possible after listing.\u003c/p\u003e\n\u003cp\u003eHowever, if trading volume is low, the sale may not be completed. The trading price may also be lower than the fund's net asset value. Keep money needed for living expenses or planned major expenditures separate.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#common-mistakes-before-subscribing\" class=\"anchor\" id=\"common-mistakes-before-subscribing\"\u003e\u003c/a\u003eCommon Mistakes Before Subscribing\u003c/h2\u003e\n\u003cp\u003eDistinguishing between the fundraising amount and individual benefits can reduce misunderstandings. The government's contribution is not financial assistance paid to individuals. Also distinguish between the deduction limit and the expected tax refund.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCommon misunderstanding\u003c/th\u003e\n\u003cth\u003eCorrect meaning\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common misunderstanding\"\u003eYou receive a refund of up to KRW 18 million\u003c/td\u003e\n\u003ctd data-label=\"Correct meaning\"\u003eThis is the maximum income deduction, and actual tax savings vary by individual\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common misunderstanding\"\u003ePrincipal is guaranteed because the government participates\u003c/td\u003e\n\u003ctd data-label=\"Correct meaning\"\u003eInvestors may still incur losses despite subordinate government funding\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common misunderstanding\"\u003eYou cannot subscribe again if you opened an account for the first offering\u003c/td\u003e\n\u003ctd data-label=\"Correct meaning\"\u003eYou may subscribe to the second offering if you only opened an account and did not actually invest\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common misunderstanding\"\u003eYoung people automatically receive the lower-income allocation\u003c/td\u003e\n\u003ctd data-label=\"Correct meaning\"\u003eYou must meet the lower-income criteria\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common misunderstanding\"\u003eYou can freely redeem after holding for 3 years\u003c/td\u003e\n\u003ctd data-label=\"Correct meaning\"\u003eEarly redemption is not permitted for 5 years\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common misunderstanding\"\u003eYou can always subscribe through October 15\u003c/td\u003e\n\u003ctd data-label=\"Correct meaning\"\u003eSales may close early if the available amount is fully subscribed\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n","tags":["Investment","Everyday Finance","Long-term investment","Taxes","Year-end tax settlement"],"faqs":[{"question":"When can I subscribe to the second round of the National Growth Fund?","answer":"It will be sold from September 30 to October 15, 2026. Sales may close early once the target amount of 600 billion won is reached."},{"question":"Can investors in the first-round fund also subscribe to the second round?","answer":"If you actually invested in the first round, you cannot subscribe to the second round. If you only opened an account and did not invest, you can subscribe."},{"question":"How much is allocated exclusively to low-income investors?","answer":"During the first five business days of sales, 300 billion won, or 50% of the target amount, will be allocated. The remaining amount will be sold from October 8 to 15, 2026, without distinction between low-income and general investors."},{"question":"If I am young, will I automatically receive an allocation from the low-income portion?","answer":"You will not receive an automatic allocation solely because you are young. You must meet income criteria such as those for the low-income ISA."},{"question":"If I use an income verification certificate for ISA enrollment, will I be subscribing through an ISA?","answer":"The certificate is a document used to verify income. To receive the fund's tax benefits, you must subscribe through a dedicated National Participation Growth Fund account."},{"question":"Can I also subscribe at a branch?","answer":"You can also subscribe at a branch. During the first week, the share of online sales will be limited to preserve opportunities for branch visitors. Woori Investment \u0026 Securities and Kiwoom Securities are online-only."},{"question":"Is the maximum income deduction of 18 million won a tax refund?","answer":"18 million won is the maximum amount deducted from the income used to calculate taxes. It is different from the actual tax refund or tax savings."},{"question":"If I invest 50 million won, how much is the income deduction?","answer":"If you meet the tax requirements, the deduction calculated by bracket is 16 million won. A rate of 40% applies to the first 30 million won, and 20% applies to the remaining 20 million won."},{"question":"Is the 9.9% dividend income rate a guaranteed rate of return?","answer":"9.9% is the separate tax rate on dividend income, including local taxes. It is a tax rate that applies for up to five years from the investment date, not a rate of return."},{"question":"If the government invests in a subordinated position, is the principal guaranteed?","answer":"The principal is not guaranteed. Even if the structure requires government funds to absorb losses first, investors may still incur losses."},{"question":"Can I redeem the investment early after three years?","answer":"You cannot redeem the investment early for five years. The three-year period is a criterion related to the recapture of taxes upon early transfer."},{"question":"What if I need the money before maturity?","answer":"You may transfer your holdings after listing. However, there may be no buyer, or the trading price may be low. Tax recapture also applies if you transfer the investment within three years of investing."}],"sources":[{"url":"https://www.fsc.go.kr/no010101/87667","title":"Financial Services Commission, Sales Plan for the Second Public Participation Growth Fund, September 8, 2026","type":"source"},{"url":"https://www.fsc.go.kr/no010101/87766","title":"Financial Services Commission, Details on the Launch of the Second Public Participation Growth Fund, September 22, 2026","type":"source"},{"url":"https://www.fsc.go.kr/no040000?cnId=3428\u0026curPage=2\u0026pastPage=2\u0026srchKey=\u0026srchText=","title":"Financial Services Commission, The Second Public Participation Growth Fund Launches on September 30, September 11, 2026","type":"data_point"},{"url":"https://fsc.go.kr/no040101?cnId=3253\u0026curPage=1\u0026pastPage=25\u0026srchKey=\u0026srchText=","title":"Financial Services Commission, Second Public Participation Growth Fund D-7 Card News, September 23, 2026","type":"source"}],"images":[{"id":1481,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6MjE1NzIsInB1ciI6ImJsb2JfaWQifX0=--d15d3c510e734ae5f7538d9f54e6db67a50e5866/ai-897d530b.webp","is_representative":true,"generation_method":"ai_photo","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"은행 상담 창구에서 여성이 펜을 든 채 서류를 살펴보고 있다.","caption":"가입 전 5년간 유지할 투자금액과 중도 환매 제한을 확인하세요.","description":null},"en":{"alt":"A woman holds a pen over paperwork while consulting a bank employee.","caption":"Before subscribing, decide how much you can keep invested for five years.","description":null},"ja":{"alt":"銀行の窓口で、女性がペンを持ったまま書類に目を通している。","caption":"加入前に、5年間維持できる投資額と途中解約の制限を確認しましょう。","description":null},"es":{"alt":"Una mujer sostiene un bolígrafo mientras revisa documentos ante una empleada bancaria.","caption":"Antes de suscribirte, decide cuánto puedes mantener invertido durante cinco años.","description":null},"id":{"alt":"Seorang perempuan memegang pena sambil memeriksa dokumen bersama petugas bank.","caption":"Sebelum mendaftar, tentukan jumlah yang dapat tetap diinvestasikan selama lima tahun.","description":null},"pt":{"alt":"Uma mulher segura uma caneta enquanto examina documentos com uma funcionária do banco.","caption":"Antes de aderir, decida quanto pode manter investido por cinco anos.","description":null},"zh-hant":{"alt":"一名女子在銀行櫃檯拿著筆，查看職員面前的文件。","caption":"申購前，請確認可維持五年的投資金額及提前贖回限制。","description":null},"de":{"alt":"Eine Frau hält einen Stift über Unterlagen und spricht mit einer Bankangestellten.","caption":"Prüfen Sie vor der Zeichnung, welchen Betrag Sie fünf Jahre lang investiert lassen können.","description":null}}},{"id":1482,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6MjE1NzgsInB1ciI6ImJsb2JfaWQifX0=--e8d3356df80fbdf1f1e5b09ce858be36a099cf46/ai-fb82c86c.webp","is_representative":false,"generation_method":"ai_semi","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"증권사 지점 앞에서 휴대전화를 확인하는 남성과 화면 옆에 표시된 완료 체크 표시","caption":"전용계좌 개설에 그치지 말고 실제 투자가 완료됐는지 확인하세요.","description":null},"en":{"alt":"A man checks his phone outside a securities branch, with a checkmark graphic beside him.","caption":"Confirm that the investment was completed, not just the dedicated account opening.","description":null},"ja":{"alt":"証券会社の店舗前でスマートフォンを確認する男性と、横に表示されたチェックマーク","caption":"専用口座の開設だけでなく、実際に投資が完了したか確認しましょう。","description":null},"es":{"alt":"Un hombre consulta su móvil frente a una sucursal de valores, con una marca de verificación a su lado.","caption":"Confirma que la inversión se completó, no solo que se abrió la cuenta específica.","description":null},"id":{"alt":"Seorang pria memeriksa ponsel di depan kantor sekuritas, dengan tanda centang di sampingnya.","caption":"Pastikan investasi benar-benar selesai, bukan hanya rekening khusus yang dibuka.","description":null},"pt":{"alt":"Um homem consulta o celular em frente a uma corretora, com uma marca de verificação ao lado.","caption":"Confirme que o investimento foi concluído, não apenas a abertura da conta específica.","description":null},"zh-hant":{"alt":"一名男子在證券公司門外查看手機，旁邊顯示勾選標記。","caption":"除了開立專用帳戶，也要確認投資是否實際完成。","description":null},"de":{"alt":"Ein Mann prüft vor einer Wertpapierfiliale sein Handy; daneben ist ein Häkchen eingeblendet.","caption":"Prüfen Sie, ob die Anlage tatsächlich abgeschlossen und nicht nur das Sonderkonto eröffnet wurde.","description":null}}}],"published_at":"2026-09-24T02:44:21+09:00","updated_at":"2026-09-24T02:44:21+09:00","license":"cc_by","translation_status":"reviewed","available_locales":["ko","en","ja","es"],"data_locales":["ko","en","ja","es","id","pt","zh-hant","de"],"url":"https://injoys.com/en/articles/national-growth-fund-second-round-september-30-guide"}