국민성장펀드 쏠림의 역설…성장금융·모태펀드 '반사이익'

South Korea's National Growth Fund faces potential capital redistribution as regulators extend favorable risk-weighted asset (RWA) treatment to competing policy funds like Korea Growth Finance and the Korea Venture Investment Management Company. What was previously an exclusive 100% RWA advantage—versus 400% for regular VC investments—now applies across the entire policy fund ecosystem, forcing financial institutions to reassess capital allocation strategies. This regulatory parity shift may fragment concentrated venture funding while stabilizing long-term policy financing diversity.