Chinadotcom invests in Korean start-ups

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HONG KONG--Chinadotcom Corp., the Hong Kong-based ad and Web solutions company, and KoreaOnline, an online financial services company, will set up a venture fund to support Internet and high-tech projects in Korea.

Korea is a particularly promising market because of a high rate of Internet use, plus half of Korean stock trading is done online, says Chinadotcom.

The two companies, which each hold a 50% share in the fund, are also launching an online "financial supermarket" for Korea, featuring services for insurance, banking and brokerage. 24/7 Media Asia will handle advertising sales for the new Web site. KoreaOnline specializes in brokering, insurance and banking. Its customers include Samsung, SK Telcom, Hyundai and LG Electronics.

Copyright March 2000, Crain Communications Inc.

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