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Korea Herald: 45 IT firms to receive state subsidies

Dec 27, 1999, 13:06 (0 Talkback[s])

[ Thanks to Randy for this link. ]

"The Ministry of Information and Communication yesterday announced the names of 45 information and telecom companies that are to receive government funding."

"The companies named yesterday center mostly around the Internet and e-commerce technologies, Linux-based software and wireless telecom technologies using WAP (wireless application protocol)."

"Companies are selected every quarter and are eligible to each receive up to 500 million won from the government. In addition to financial support, the ministry also arranges for the companies to get technical and management consulting."

Exchange rate is approx. 1130 Korean Won per U.S. Dollar.

Complete story.