sentences:  Israel opened its embassy in Seoul in April 1968, which was closed by the Israeli government in 1978.The embassy was reopened in January 1992, with Korea opening its resident embassy in Tel Aviv in December 1993.On 23 August 2010 Korea Venture Investment Corp. (KVIC), a state-backed fund management company, signed a memorandum of understanding with Israel's Vertex Venture Capital (VVC) to raise a US$150 million fund, which will be used to finance joint ventures or the merger and acquisition of small and mid-size venture firms in the two countries.