Shinhan Investment Corp. announced on the 3rd the launch of its second "Shinhan Premier Commercial Paper" product.
The Shinhan Premier Commercial Paper is a note with maturity of one year or less issued directly by Shinhan Investment Corp., paying principal and interest according to agreed-upon yields. The flexible-term product offers a pre-tax annual rate of 2.50%, while the one-year fixed-term product carries a pre-tax annual rate of 3.30%. The minimum investment amount is 1 million won, and the product is available to individual customers.
Shinhan Investment Corp.'s first Shinhan Premier Commercial Paper special offering, launched last month with a 50 billion won ceiling, sold out within a day and a half of its debut.
Meanwhile, Shinhan Investment Corp. plans to actively foster venture capital as a member of the Productive Finance Initiative, which Shinhan Financial Group is pursuing under the banner of "K-Growth, K-Finance." The company previously established the "IB Comprehensive Finance Division," a dedicated productive finance unit reporting directly to the CIB President. From this first year of commercial paper issuance, the company plans to invest 35% of raised funds in venture capital.