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Softbank CEO Son pledges $4.5bn in Korea`s IoT, AI, Energy over 10 yrs

Collected: 2016.10.01

Distributed: 2016.10.05

Source: Go Direct

Masayoshi Son, the chairman of Japanese telecommunications giant SoftBank Corp. pledged to invest 5 trillion won ($4.5 billion) in South Korea`s Internet of Things, artificial intelligene, mobile and smart robotics, and power sector over the next 10 years. He made the comment during his meeting with President Park Geun-hye on Friday.

SoftBank is looking for an opportunity to work together with Korean partners in the IoT area after its acquisition of U.K.-based chip design firm ARM for 32 billion, a Cheong Wa Dae official said.

On Thursday, Son met with Samsung Electronics vice chairman Lee Jae-yong at Samsung’s Seocho headquarters in Seoul to discuss cooperation on IoT and semiconductor applications. Market watchers speculate the two exchanged ideas on cooperation regarding SoftBank’s project to build a distribution network of smartphones across Japan.

Son, the legendary businessman, developed SoftBank that started in 1981 with two employees, into Japan’s top telecommunication company.

By Nam Gi-hyun

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