Google CEO Eric Schmidt must have been impressed on his visit to Korea in November of last year.
Asia Gyeongjae is reporting that Google and the Korea Communications Commission have signed an MOU in which the tech giant will help to incubate Korean start-ups. According to the article, the agreement also includes provisions for Google to invest $1 million into a venture fund run by KCC’s Korea Internet & Security Agency.
At a signing ceremony at the KCC’s headquarters in Seoul, Google’s DJ Collins stated that Korea is the first country that Google has stepped up to promote venture companies. He went on to say that Google wishes to maintain a partnership with Korea into the future and help Korean developers make progress on the global stage.
Here is a good English-language article on the agreement by the Times of India.
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