View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 10, 1999

Microsoft Buys Stake in Korean ISP

By CBR Staff Writer

Microsoft Corp has made its first investment in a Korean internet venture by purchasing a $10m, 5% stake in Thrunet Ltd, a provider of high-speed internet services via a cable TV network which has applied for a Nasdaq listing.

Thrunet chief executive Kim Jong-kil said the two companies have signed an investment contract following a year of negotiations, and Microsoft has agreed to make an additional investment sometime next month. The funds from Microsoft will be used to form our own network in time for the planned extension of high-speed internet services to cover the entire country next year, he told reporters.

The money will also be used to develop a network maintenance system and to develop multimedia content and other added value services, said Kim. As part of their overall agreement, the two companies have agreed to jointly operate an internet portal site in Korea, he said. Thrunet hopes to receive approval next month to go ahead with its Nasdaq listing.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.