Koniag is one of 13 regional Native corporations established by Congress under the terms of the Alaska Native Claims Settlement Act to settle the aboriginal land claims of Alaska Native people. Koniag's business activities are classified in four segments, investment securities, real estate, operating companies and natural resources. Koniag Development Corporation is a wholly owned subsidiary of Koniag. The company operates as Koniag's business arm and manages most of the business operations and real estate holdings. It manages investment ownership and oversight, administrative services, delivery of shareholder jobs and delivery of profits. Koniag Development Corporation s subsidiary companies provide a wide variety of products and services using the Small Business Act 8(a) program. Koniag is located in Kodiak, Alaska.