Korea Growth Fund Launches Nov. 22 With Up to 40% Tax Deduction

*Editor's Note: 'AI PRISM' (Personalized Report & Insight Summarizing Media) is an AI-based customized news recommendation and summary service developed with support from the Korea Press Foundation. It selects and provides six tailored news items per reader type.

1. From SNS to B2B Solutions: Professional Platforms Expand New Businesses

- Key Summary: 'Connect,' a real-name-based professional SNS launched by business card management app Remember, surpassed 1 million users within 45 days of launch. Connect is a networking platform for sharing real work experiences and career success and failure stories, targeting users' demand for personal branding. Blind plans to expand 'Blind Insight,' an organizational culture analysis solution currently used by global companies such as Meta and TikTok in the U.S., to Korea this year and also launch an LLM service within the year. Analysts note a clear trend of professional platforms simultaneously expanding in two directions: personal branding and organizational culture data analysis.

2. KOSPI Hits 7,000s in One Leap as Samsung Market Cap Tops $1 Trillion

- Key Summary: The KOSPI closed at 7,384.56, up 6.45% from the previous session, setting a new all-time closing high, and soared to 7,426.60 intraday, triggering the seventh sidecar of the year. Semiconductor bellwether Samsung Electronics ended up 14.41% at 266,000 won, joining the $1 trillion market cap club as Asia's second member, while SK hynix (000660.KS) also rose 10.64% to 1.601 million won. With the market rally, the National Pension Service fund, which expanded its domestic stock holdings, surpassed 1,700 trillion won for the first time, generating more than 250 trillion won in returns in just four months this year. Analysts say that stock market booms tend to expand hiring in finance, asset management, and IB fields, opening opportunities for those preparing for related roles.

3. K-High-Speed Rail Begins First Commercial Operation in Uzbekistan

- Key Summary: Hyundai Rotem (064350.KS) began the first overseas commercial operation of Korean-made high-speed rail vehicles, deploying 42 KTX-Eum-based high-speed cars on the Tashkent-Khiva line (about 1,020 km) about two years after signing a contract with Uzbekistan Railways. The trains have a maximum speed of 250 km/h and capacity of 389 passengers, and were custom-built for local conditions including dustproof designs for extreme heat and desert environments, reducing travel time between Tashkent and Khiva to about seven hours, roughly half the previous duration. With this launch, some 600 domestic parts suppliers that participated in the Uzbek high-speed rail project have proven their global supply chain capabilities. Analysts forecast that the expansion of K-rail export bases could lead to increased hiring for overseas sales and technical positions in the rail vehicle, parts, and infrastructure sectors.

4. Alchemy of Waste Plastic: Petrochemical and Refining Firms Boost Recycling Investment

- Key Summary: LG Chem (051910.KS), SK Chemicals (285130.KS), and GS Caltex are elevating investment in waste plastic recycling technology to a 'resource security' strategy in response to Middle East-driven raw material supply instability. LG Chem completed Korea's first pyrolysis oil plant in Dangjin, South Chungcheong Province, investing 310 billion won, while SK Chemicals is building an annual 32,000-ton depolymerization production system with a Chinese joint venture. The global plastic recycling market grew from $58 billion in 2019 to $69.4 billion in 2023, an average annual growth of 8.1%, and is projected to reach $120 billion by 2030. Industry officials explain that internalizing recycling technology is a means of securing both cost competitiveness and supply chain stability, beyond simply responding to environmental regulations.

5. Up to 40% Income Tax Deduction: Korea Growth Fund on Sale From Nov. 22

- Key Summary: The Financial Services Commission (FSC) announced that the Korea Participation Growth Fund will be sold on a first-come, first-served basis at 25 banks and securities firms from Nov. 22 through Dec. 11. More than 60% of the fund will be invested in advanced strategic sectors such as AI, semiconductors, and biotech, and a 40% income tax deduction will apply to investments of up to 30 million won if held for three years or more. The government will bear up to 20% of losses incurred during management, and a 9% separate taxation will apply to dividend income, offering an unprecedented tax structure. Anyone aged 19 or older (including earners aged 15 or older) can subscribe, and 120 billion won will be allocated first to lower-income earners with annual income of 50 million won or less, offering entry opportunities for new employees.

6. Jeonse Fraud Victims Recognized Approach 40,000 Cumulative Cases

- Key Summary: The Ministry of Land, Infrastructure and Transport (MOLIT) finalized 855 cases through three plenary meetings of the Jeonse Fraud Victim Support Committee in April, with cumulative victims reaching 38,503 since the law took effect in June 2023. Of all cases reviewed, 61.0% were recognized as victims, while 22.2% were rejected for failing to meet requirements. The Korea Land and Housing Corporation (LH) has purchased 8,357 affected housing units to date, acquiring an average of 840 units monthly through last month this year. Victims can convert auction proceeds into deposits to reside for up to 10 years and receive the funds immediately upon moving out, while a 20-year interest-free installment repayment program is also available for those unable to repay jeonse loans.