South Korea launches $215 million Sea‑Living‑Region fund for regional marine firms

South Korea’s Ministry of Oceans and Fisheries announced the creation of the ‘Sea‑Living‑Region Specialized Fund’, the first policy fund dedicated exclusively to non‑metropolitan marine small‑and‑medium enterprises and ventures. The fund will begin with an initial capital of 215 billion won, with a target of 1.428 trillion won by 2030, comprising 1 trillion won of government contributions and 428 billion won of private capital. At least 70 % of the fund’s assets must be invested in regional marine firms, aiming to stimulate private‑sector investment, create jobs, and boost local economies. The fund will be managed by Claire‑Boyant Ventures and has an eight‑year term, extendable by up to two years if needed. Officials highlighted that “marine industry has high upfront costs and long payback periods, making private investment difficult,” and expect the fund to serve as a catalyst for growth in the sector.