Microsoft to invest $147m in South Korea - with eyes on game studio

Microsoft to invest $147m in South Korea - with eyes on game studio
Michael French

By Michael French

May 12th 2008 at 11:34PM

'Unique' games could be developed locally and released globally for 360 says Bill Gates

Bill Gates announced last week that Microsoft - which he founded and is chairman of - will invest some $147m on growing its business in South Korea.

And some of the money will be spent on building a games development studio there, he added.

AFP reports that Gates pledged to invest the sum in the auto, education and other fields during talks with President Lee Myung-Bak.

He added that Microsoft would strengthen its partnership with South Korea's government and enterprises.

"Another new development is a games development center to take some unique work here and adopt it to the 360 global market," Gates reportedly told the press.

The money will be spent over five years. Microsoft also announced a partnership with Hyundai, South Korea's top car maker, in which it will contribute $113m towards developing a new in-vehicle music and entertainment system.