[Yonhap Photo]
Naver Corp., South Korea's dominant Internet portal and search engine, said Friday it will invest an additional 100 million euros (112.2 million US dollars) into European technology startups.
In September 2016, the company injected 100 million euros into France-based "K-Fund 1," which invests in European technology startups in the fields of artificial intelligence, big data and online services.
With the additional investment, the French venture fund, which was set up by France's former South Korean-born minister, Fleur Pellerin, will double in size. The fund is being managed by Korelya Capital, which was established by Pellerin to help South Korean firms make inroads into French markets.
"An additional investment will serve as an opportunity for Naver to expand investment into other European countries beyond France, such as Germany and the Netherlands," said a Naver official who declined to be named, adding that the fund will play a bridging role for promising startups between South Korea and Europe.
(Yonhap)
reporter
Lim Chang-won
cwlim34@ajunews.com
