The 'People's Participation Growth Fund,' which began its first-come, first-served sales on the 22nd, is enjoying immense popularity, rapidly exhausting its available volume immediately after its launch.

According to the financial sector, most of the online sales volume prepared by major securities firms such as Mirae Asset, KB, and Daishin Securities, as well as Shinhan, Woori, and NH Nonghyup Banks, sold out that morning. Some securities firms saw their online allocation limits filled within just 10 minutes of the sales launch.

An official from a major securities firm stated, "Around 10,000 online-exclusive accounts were opened the day before, and the online volume was quickly depleted right after sales began at 8:00 AM." They added, "Offline, over 10 billion won was sold in just one hour."

Another securities firm also noted, "A significant portion of the 20 billion won limit was sold online first," predicting, "An early sell-out is expected." KB Securities and Daishin Securities also saw their online volumes sell out immediately after launch, and it is highly likely that the in-branch sales will be mostly exhausted within the day.

An 'open-run' phenomenon also occurred at some branches, where crowds of people waiting to subscribe gathered even before the branches opened.

The rapid depletion continued in the banking sector, primarily centered on mobile app sales volumes. Shinhan and Woori Bank closed their app sales by the morning, and remaining volumes at other commercial banks are also decreasing rapidly. At major branches in Gangnam, Mokdong, and Myeongdong, customers visited and waited to subscribe before business hours began, causing congestion at the on-site counters.

This fund is being recruited on a first-come, first-served basis over a three-week period, totaling 600 billion won. The structure involves pooling 600 billion won in public funds and 120 billion won in government finances to form a fund of funds (Mo-fund), which is then invested in 10 sub-funds (Ja-funds).

Subscriptions are available at 10 banks and 15 securities firms, and applications can be made through branches or mobile apps. During the first week, the proportion of online sales will be managed at around half of the total.

In the event of a loss in the sub-funds, the government finances will bear up to 20% of the loss first. However, the structure does not compensate for 20% of each individual's investment amount.

Benefits such as income tax deductions (up to 40%, with a limit of 18 million won) and separate taxation on dividend income (9%) are provided. However, as it is a Grade 1 high-risk product without principal protection, investors must pass an assessment confirming it matches their investment propensity to subscribe.