The presidential office said Monday that more than 100 billion won ($90 million) will be injected to nurture startups in gaming and other industries.

The financial assistance, which is mainly provided by a state-managed credit guarantee fund, will be offered to small companies and startups in such fields as games, financial technology, known here as fintech, and the Internet-of-Things, according to the office.

The office made the announcement as President Park Geun-hye opened the latest innovation center in Pangyo, just south of Seoul.

The innovation center will "guide startups to make inroads into global markets," Park told more than 150 officials and businessmen at the opening ceremony.

The innovation center is the eighth of its kind in South Korea.

South Korea has been pushing to set up such centers across the country to match up local startups and venture firms with conglomerates, known here as chaebol, which can provide resources to smaller companies so that they can turn creative ideas into real businesses.

She also said Pangyo -- South Korea's answer to the U.S.-based Silicon Valley that is home to many technology companies -- would "serve as a base camp" for small venture companies in making inroads into foreign countries.

Pangyo accounts for 85 percent of sales of all listed South Korean gaming companies, and more than 70 percent of exports of the country's games.

South Korea has emerged as a powerhouse in the gaming industry in recent years. (Yonhap)