SEOUL (AFP) — Microsoft founder and chairman Bill Gates has unveiled a plan to invest 147 million dollars in South Korea over five years to strengthen his company's presence here, officials said Tuesday.
Gates promised to invest the sum in the auto, education and other fields during talks with President Lee Myung-Bak, the president's office said in a statement.
He also said Microsoft would strengthen its partnership with South Korea's government and enterprises, describing South Korea as a crucial business partner, it said.
Gates, who is in Seoul to attend the annual Seoul Digital Forum, agreed to act as one of Lee's global advisers, the office said.
Earlier Tuesday Microsoft and South Korea's top automaker Hyundai Motor agreed to set up a strategic alliance and to jointly establish an auto IT innovation centre.
Over the next five years, Hyundai said it would invest a total of 166 million dollars in the centre while Microsoft will invest 113 million dollars.
As part of the deal, Microsoft and Hyundai will jointly develop a new in-vehicle music and entertainment system.
"Another new development is a games development center to take some unique work here and adopt it to the 360 global market," Gates told reporters after dinner with Lee.
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