Singapore-based Evergreen Group Holdings announced Thursday that it will invest around 10 billion won ($7.5 million) in the K-pop entertainment agency Attrakt to help foster the agency’s vision in the K-pop industry.

Evergreen Group Holdings is an enterprise which develops a multi-diversified range of businesses from timber to finance, run by CEO David Yong.

David Yong is also a K-pop singer in Korea, having debuted with the single “In My Pocket” last year.

“We are happy to form a relationship with Attrakt through our investment. We decided to invest, as we highly evaluate Attrakt’s CEO Jeon Hong-jun’s planning and promoting capability in the entertainment industry and also the agency’s vision,” Yong said in a press release.

“We are thankful for David Yong’s recognition of our agency’s value and for his investment. We will continue to move forward progressively for a brighter future,” said Jeon Hong-jun.

The two companies formerly inked a memorandum of understanding on Aug. 25 in efforts to attract more investment.