[Financial Microscope] Kookmin Growth Fund Support Team to Be Established with 40 Members by Year-End

Establishment to Be Completed Within the Year
Bureau-Level Organization Within the Financial Services Commission
Director-Level Officials Dispatched From Multiple Ministries
Dedicated to Investment Coordination and Administrative Support Ah

Lee Okwon, Chairman of the Financial Services Commission, is delivering a keynote speech at the 'M.AX Alliance-Kookmin Growth Fund Linked Meeting' held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on December 4, 2025. Photo by Yoon Dongju

The Financial Services Commission is set to complete the establishment of the "Kookmin Growth Fund Support Team" within the year, ahead of the full-scale operation of the Kookmin Growth Fund. The support team will be established as a division-level organization within the commission and will be responsible for identifying investment projects, coordinating regulations, and providing administrative support necessary for investment execution in a joint effort across government ministries.

According to government sources on December 16, the Financial Services Commission and the Ministry of the Interior and Safety are in the final stages of discussions regarding the organizational structure for the establishment of the Kookmin Growth Fund Support Team. The plan is to finalize the structure and make personnel appointments by the end of the year. The support team will consist of approximately 40 members and will be organized into three to four departments.

An official from the Financial Services Commission stated, "Currently, the Industrial Finance Division within the Financial Policy Bureau is in charge of the Kookmin Growth Fund, but once the support team is established, it will take full responsibility for related work." The official added, "Not only will staff from the Financial Services Commission participate, but also director-level personnel from related ministries such as the Ministry of Trade, Industry and Energy and the Ministry of Science and ICT will be seconded to work together."

The establishment of the support team is drawing significant attention both inside and outside the financial authorities. With the total headcount of the Financial Services Commission being less than 400, the support team will account for about 10% of the organization’s personnel, making it comparable in size to the core Financial Policy Bureau (about 50 people). However, the support team will operate as a temporary organization for three years.

The composition of participating ministries is also seen as reflecting the policy’s significance. The Ministry of Economy and Finance, which oversees fiscal and economic policy, and the Ministry of Trade, Industry and Energy, which coordinates industrial investment plans, will participate, with the head of the support team being a director from the Financial Services Commission.

The actual fund management, investment execution, and post-investment management of the Kookmin Growth Fund will be handled by the Kookmin Growth Fund Secretariat, which is established within Korea Development Bank. The secretariat includes experts seconded from Korea Development Bank and the five major financial holding companies, while investment decisions are made by a fund management committee composed of nine private sector experts. The strategy committee, which includes Lee Eog-weon, Chairman of the Financial Services Commission, participates as an advisory body. The support team will be responsible for inter-ministerial investment coordination, regulatory improvements, and administrative support, with its role clearly distinguished from the secretariat, which handles operational tasks.

The establishment of the support team aims to build an administrative support system to stably promote large-scale investment projects, as more than 30 trillion won is expected to be executed annually through the Kookmin Growth Fund starting next year. The fund plans to invest a total of 150 trillion won over the next five years, focusing on advanced strategic industries such as artificial intelligence (AI), semiconductors, biotechnology, robotics, and the defense industry.

Previously, the Financial Services Commission and the Ministry of Trade, Industry and Energy held the "M.AX Alliance-Kookmin Growth Fund Linked Meeting" to discuss industrial investment demand and coordination measures. Based on these discussions, the support team will provide practical support, including hosting briefings, coordinating investment schedules, and improving regulations.

The Kookmin Growth Fund was officially launched on December 10 and is currently reviewing its first investment project based on investment demand. Once personnel appointments for the support team are complete, full-scale operations are expected to begin in January next year. Given this timeline, the announcement of the first investment from the Kookmin Growth Fund is likely to take place after mid-January.

Within the financial authorities, the AI or semiconductor sectors are being strongly considered as the first investment targets. Chairman Lee recently mentioned at a press briefing, "We may see relatively rapid and tangible investment targets emerge in the fields of AI and semiconductors."