SEOUL--Masayoshi Son, a third-generation Korean-Japanese and CEO of Tokyo-based Softbank Corp., plans to invest in about 100 Korean Internet companies during the next two to three years.
"We're targeting service-based start-ups with creative new ideas that haven't begun business yet," says a Softbank spokesman.
The investments will be made by a joint venture between Softbank and the Korean company Narae Telecom, called Softbank Holdings Korea (SBHK).Softbank holds an 80% stake in the venture. SBHK will typically buy a 35% stake in the companies in which the venture invests.
For Korean Internet start-ups not associated with Korean conglomerates, it represents a major opportunity for funding, according to the spokesman.
Copyright January 2000, Crain Communications Inc.
