Shinhan Investment Corp. has launched its first commercial paper product, "Shinhan Premier Commercial Paper," offering interest rates up to 4%.
According to Shinhan Investment Corp. on the 9th, the Shinhan Premier Commercial Paper is a note with maturities of one year or less that pays principal and interest based on agreed-upon yields. The product line consists of three types: flexible, fixed-term, and limited-time special offerings. The minimum investment amount is 1 million won, and the products are available to individual customers.
The flexible type offers a pre-tax annual rate of 2.5%. The fixed-term type offers pre-tax annual rates ranging from 2.3% to 3.3% depending on the investment period. The limited-time special product targeting customers in their 20s and 30s carries a pre-tax annual rate of 4.0% and is available to young customers aged 15 to 39. The special offering has a 20 billion won issuance limit, and sales will end early once the limit is reached.
"Starting from the first year of our commercial paper launch, we plan to invest 35% of the funds raised in venture capital, practicing genuine productive finance," said Lee Sun-hoon, CEO of Shinhan Investment Corp. "We will prioritize investor protection and do our utmost in risk management."
The first customer to sign up was actor Park Bo-gum, the group's main brand ambassador. Shinhan Financial Group Chairman Jin Ok-dong and CEO Lee signed up as the second and third customers, respectively, at an event wishing for "K-Growth." Chairman Jin said, "Shinhan Financial Group is actively practicing productive finance under the banner of 'K-Growth, K-Finance.' We hope Shinhan Investment Corp.'s commercial paper will serve as a reliable asset management option for customers and become a foundation for venture capital supply and a catalyst for innovative companies' growth in our economy."