InfoAnda - SKorea: Microsoft plans $60 million investment

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: SKorea: Microsoft plans $60 million investment AP - Tuesday, November 4 SEOUL, South Korea - Microsoft Corp. plans to invest $60 million in South Korea over the next three years, President Lee Myung-bak's office said Monday. In a statement, the presidential Blue House said Microsoft CEO Steve Ballmer spoke of the plan during a meeting with Lee at the president's office. The money will be invested in areas including training and new business cultivation, the statement said. Korean-language press materials released by Microsoft mentioned the projects but made no mention of the investment amount. Separately, Microsoft, South Korea's Hyundai-Kia Automotive Group and South Korea's Institute for Information Technology Advancement opened a center to develop information technology products and services focused on automobiles. The opening of the Automotive IT Innovation Center follows an agreement in May by Microsoft and the world's fifth-largest automotive group to cooperate in developing next-generation in-car information and entertainment systems, Kia Motors Corp. said in a press release. "Microsoft and Hyundai-Kia Automotive Group share a similar vision for the role that information technology will play in connecting people to information, communications and entertainment while they are in their cars," Ballmer said, according to the release. Also, Ballmer and Nam Yong, CEO of LG Electronics Inc., signed a memorandum of understanding aimed at strategic collaboration in the area of mobile convergence, LG said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Seoul shares open higher; banks, airlines riseReuters - 51 minutes ago WRAPUP 3-US auto sales hit 25-yr low, Europe outlook bleakReuters - 52 minutes ago China's Baosteel to trim output in Dec -paperReuters - 52 minutes ago Nikkei rises 1.5 pct as exporters gainReuters - 55 minutes ago CORRECTED - Rio Tinto sees no cuts in Africa exploring, budgetReuters - 1 hour 1 minute ago Most Popular – Business Viewed Foods to prevent disease? Obama in command on eve of US vote Hamilton pips Massa to Formula One title in tense Brazil finale Formula One driver Hamilton wins 2008 F1 championship Australia anxious as Indonesia prepares to execute Bali bombers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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