Google to help South Korea start-ups

Google reportedly plans to make an investment in a venture fund operated by KCC's Korea Internet & Security Agency
South Korea's telecommunications regulator said Tuesday it had signed an agreement with Google Inc. for the Internet giant to help nurture local start-ups and promote their advances into overseas markets.

South Korea's telecommunications regulator said Tuesday it had signed an agreement with Google Inc. for the Internet giant to help nurture local start-ups and promote their advances into overseas markets.

Under the memorandum of understanding, Google will help develop ideas and services and provide start-ups with personnel and funding, the Korea Communications Commission (KCC) said.

Google will also help such start-ups in tapping into overseas markets by providing them with chances to exchange with tech firms in .

reportedly plans to make an initial investment of some $1 million in a venture fund operated by KCC's Korea Internet & Security Agency, according to Moneytoday, a South Korean Internet news provider.

David John Collins, vice president of Google's global communications and public affairs, told journalists that his company sees Korea as "an important strategic" market and seeks long-term investment in the country.


Explore further

Google to set up YouTube channel for Korean pop

(c) 2012 AFP

Citation: Google to help South Korea start-ups (2012, January 10) retrieved 25 August 2019 from https://phys.org/news/2012-01-google-south-korea-start-ups.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more