SK Planet, an internet services company owned by SK Telecom of South Korea, will be active in the US technology corporate venturing space over the next three to five years. The company has a funding remit of between $500m and $1bn.

South Korea-based SK Planet, an internet services subsidiary and corporate venturing unit of SK Telecom, will invest between $500m and $1bn to acquire US technology companies. The investment timeframe is between three and five years.

SK Plant joins Samsung, which in early 2013 earmarked $1bn across two US-focused funds, the Samsung Catalyst Fund and the Samsung Ventures America Fund. Samsung also opened a Strategy and Innovation Center and also made a $25m investment in US patents firm Intellectual Keystone Technology.

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