South Korea’s SK Group has announced it is launching a US$25 million fund designed to invest with “venture firms and young entrepreneurs” in agricultural and fishery-focused startups, according to the Korea Herald.

 

In October 2014, SK opened the Creating Economy Center, an incubator unit located in Daejeon to provide early-stage startups with financing, mentorship, and additional resources, reports the Korea Times.

 

So far, SK has invested a total of KRW75 billion (US$63 million) through its startup programs, and earlier this month the group was reported to be seeking out partnerships with Middle Eastern startups to help the group gain a foothold in the region. Toward this end, the group has established a competition for Korean startups that are looking to expand into Middle Eastern markets.