"To Redeem Funds Within the Year, Applications Must Be Submitted by the 27th"

On the 2nd, the KOSPI and KOSDAQ indices started lower influenced by the decline in the US stock market. Dealers are working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Junho] Due to the year-end closure of the Korea Exchange (December 31), the redemption schedule for domestic equity and mixed equity funds will be postponed.

According to the Korea Financial Investment Association on the 20th, if investors in domestic equity and mixed equity funds apply for redemption before 3:30 PM on the 27th, they will receive the redemption payment on the 30th based on the announced net asset value on the 28th. If the application is made after 3:30 PM on the same day, under the Late Trading system, the payment will be made on the 30th based on the announced net asset value on the 29th.

Park Doo-sung, head of the Securities Support Department 2 at the Korea Financial Investment Association, stated, "Investors planning to liquidate their funds within this year need to pay attention to the redemption schedule," and added, "Since some funds, such as overseas investment funds, may have different processing methods, investors should contact their fund sales company in advance to confirm."