The fund will help newly begun businesses such as small and medium sized ventures established within three years.

On October 17, Naver announced that it will create a virtuous cycle of startup fund ecosystem and form two accounts worth 25 billion won for helping startups to grow which will be 50 billion won in total.

This investment is a part of the 'Future Creation Fund' arrangement announced back in August along with government agencies such as the Small and Medium Business Administration (SMBA) and private enterprises to support venture startups in high-tech field.

The fund will be mainly focused on companies that are less than 3 years old and have hard time receiving financial support from outside. Naver also plans to support venture startups by sharing its global knowhow and through active business cooperation.

Naver CEO Kim Sang-hun said, "We hope this fund will provide new business opportunities to smaller companies and venture companies that are going through financial hardship even though they have excellent ideas and technologies. We will figure out effective ways to activate venture ecosystem."

Jeong Yu-sin, CEO of Korea Venture Investment Corporation (KVIC), said, "This fund has been decided in the beginning field of Future Creation Fund. Naver's excellent business capacity and Korea Venture Investment Corporation's professional asset management selection and fund monitoring skills are expected to make good results."