Microsoft, Hyundai agree on joint development of new system
AFP, May, 2008
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SEOUL (AFP) — US software giant Microsoft and South Korea's top automaker Hyundai Motor have forged a deal jointly to develop a new in-vehicle music and entertainment system, officials said Tuesday.
Hyundai officials said Microsoft head Bill Gates would attend a ceremony later in the day at which the deal would be signed.
Gates is in Seoul to attend the annual Seoul Digital Forum.
Microsoft and Hyundai will jointly establish an auto IT innovation centre, the Korean company said.
Over the next five years, Hyundai will invest a total of 166 million dollars to bring IT technology advancements into the car and to develop new in-car services, it said. Microsoft will invest 113 million dollars.
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