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What is a general private fund in Korea?

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Under Article 9(19) of the FSCMA, a private collective investment vehicle issues securities only by private placement and has no more than 100 investors in total.

Private funds are divided into institutional private funds and general private funds; general private funds may be issued only to qualified investors.

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Answers are general information, not investment advice. Past performance does not guarantee future returns, and collective investment securities are not deposit-insured.