100 billion won set for IT start-ups
The Korea Telecommunications Operators Association said yesterday that it will invest 100 billion won ($83 million) a year in information technology start-ups and small to midsized firms. The money comes from the fund of about 300 billion won that four large telecommunications firms, including KT Corp. and SK Telecom Co., pooled late last year. The investment aims to develop new information technologies and boost the start-up industry, the association said. The investment will concentrate on nine sectors that the Ministry of Information and Communication selected as growth engines, including mobile communications, digital TV, intelligent robots, semiconductors and embedded software.
with the Korea JoongAng Daily
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