The International Triathlon Union (ITU) has signed a development grant contract with the Asian Triathlon Confederation (ASTC).
The deal came after ASTC President Justin Park presented a plan to the world governing body explaining how he would use the ITU's cash.
His plan centres around providing training and educational opportunities to promising young triathletes, as well as the development of coaches and technical officials.
Marisol Casado, the President of the ITU who is also a member of the International Olympic Committee, was impressed with what the South Korean had to say.
"ASTC’s plan was very robust and outlined a great way to use the funds ITU provides to Continental Confederations to develop the sport," said Casado.
"ASTC President Justin Park has done a fantastic job leading the Asian Triathlon Confederation since his election last year.
"I’m looking forward to seeing the outcomes of this plan."
The agreement includes plans for a talent identification camp in Asia and camps for women, as well as funds to assist elite athletes who travel to races.
Additionally, ASTC will offer level one and level two coaching courses and a coach mentoring program.
ASTC also plans to offer a total of seven Para-triathlon, level one and level two Technical Officials Seminars across the continent, and they will help self-funded Technical Officials attend specific triathlon events.