Shinhan Bank will begin selling the public participation National Growth Fund, a policy investment product aimed at fostering advanced strategic industries.

Shinhan Bank said on May 20 it will sell the public participation National Growth Fund from May 22 to June 11 with a total limit of 45 billion won.

Shinhan Bank plans to support linking public investment funds to advanced strategic industries and future growth companies through the sale and to join a policy to expand productive finance.

Subscriptions are available at branches and on the Shinhan SOL Bank app. The subscription limit per person is 100 million won a year and up to 200 million won over five years. Depending on the amount subscribed, subscribers can receive an income deduction benefit of up to 18 million won, and dividend income is subject to separate taxation at 9.9 percent.

In the event of losses, government finances bear losses first up to a maximum of 20 percent as a loss buffer structure. However, due to the nature of investment products, there is a possibility of principal loss.

Shinhan Bank plans to use a "complete sale AI script" during the sales process to explain the product structure, tax benefits, investment risks and required documents based on the results of an analysis of customer preferences. It also conducted video training for branch employees to improve customer understanding.

A Shinhan Bank official said, "The public participation National Growth Fund is a product that provides an investment opportunity for the public to participate together in the growth of domestic advanced strategic industries," adding, "We will strive to establish a complete sale culture based on the principles of financial consumer protection."