[DigitalToday reporter Sangyeop Oh] Shinhan Investment & Securities has completed subscriptions for the Public Growth Fund, a government policy financial product. It set the allocation share for low-income investors above the government guideline in line with the policy intent.

Shinhan Investment & Securities said on Thursday it expanded the allocation share for low-income investors in the Public Growth Fund subscription and completed the full offering. It explained that the subscription focused on increasing participation by low-income customers from the product design stage, in line with the government’s aim of supporting asset building.

Of the total subscription amount of 20 billion won, it allocated 7 billion won, or 35 percent, to the low-income tranche. This is above the government’s guideline of 20 percent for low-income allocation.

Specifically, it allocated 5 billion won of 10 billion won raised offline and 2 billion won of 10 billion won raised online to low-income customers, respectively.

Shinhan Investment & Securities explained that the allocation structure reflects the intent of policy finance. It said it voluntarily raised the allocation share so that low-income customers, a key target of government policy, can participate in the Public Growth Fund.

The Public Growth Fund is a government policy financial product. It combines public funds and policy funds to invest in domestic growth companies. It provides investors with opportunities to invest in growth companies and supplies companies with mid- to long-term funds.

Jeong Yong-wook (정용욱), head of Shinhan Premier at Shinhan Investment & Securities, said, "This subscription is an example that considered both our core role of helping customers build assets and the direction of government policy." He added, "We will continue to expand financial services."