The world's richest man, Bill Gates, met South Korean President Kim Dae-jung on Thursday to clinch a 20 (m) million U-S dollars investment deal in a local software company.
Gates, who's currently touring Asia, also gave advice on using technology to streamline government bureaucracy, and launched a new high speed Internet access service on cable television.
He claimed that Korea, through education and information technology, could overcome its present economic difficulties.
The Microsoft empire is moving into South Korea.
As a growing economy, Microsoft is obviously keen to exploit South Korea's need for the latest computer technology and systems.
Bill Gates met the country's President Kim Dae-jung on Thursday and put forward a plan which would see Microsoft take a 19 percent equity stake in a South Korean software company - Hangul & Computer.
However, part of the deal would require the company to give up its leading Korean-language program can,led Hangul - the name of the alphabetic script in which Korean is written.
The company has an 80 percent market share but has not been profitable due to piracy - and Microsoft is keen to turn that around.
"Our commitment and optimism to the market here - particularly our commitment to spread technology into the educational sector - our commitment to work with both hardware and software partners to help them address both the domestic market and the export market as the software sector will continue to be a very growing activity particularly in this country."
SUPER CAPTION: Bill Gates, Chairman of Microsoft
After his meeting with President Kim, Gates also spoke on streamlining government bureaucracy by using new technology.
He then launched a new high speed Internet access service on cable television called the Thrunet.
Microsoft helped Thrunet launch the new service by helping it to develop its content.
The next stop for Gates - who is touring Asia - is Taiwan.