According to Yonhap News,

(SEOUL = Yonhap News) The Ministry of Science, ICT and Future Planning (MSIP) announced on February 23 that it will kick off a project to create the Digital Content Korea Fund to invest in innovative companies in the digital content industry.

The ministry will advertise its investment project until March 18 and select a fund management company in early April.

The company, which is selected by the ministry to manage the fund, will also raise capital from the private sector to form an investment association and begin investment in June. It is expected to mainly invest in the digital content industry including computer graphics, 3D, virtual reality, holography and smart content.

The MSIP plans to invest KRW 50 billion and attract another KRW 50 billion from the private sector to create a KRW 1 trillion fund this year. The fund is expected to reach KRW 4 trillion by 2017.

The ministry will hold an information session on the fund on March 4 at Korea Venture Investment Corp.