[KS] Area-Hangul // Microsoft deal cancelled

[Frank Hoffmann]

FROM:  >>The Digital Choson Ilbo (Engl. ed.)<<, 7/20/98


Microsoft Acquisition Of Hangul & Computer Co. Cancelled

 President Lee Chan-jin, owner the software development company Hangul &
Computer (H&C) announced Monday that he has decided to accept an investment
proposal by a local civic group organized to preserve Korean language
software. Following the company's June 15 announcement that it would
jettison further development of the software program as part of a US$20
million deal with Microsoft, a score of computer-related industries in the
country started a movement to prevent the demise of the Korean software
company.
 H&C and the movement group added that no more negotiations will take place
with Microsoft, as investments worth W10 billion from the civic group will
enable the software to survive.
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Frank Hoffmann * 24 Peabody Terr. #1702 * Cambridge, MA 02138 * USA
E-MAIL:  hoffmann at fas.harvard.edu
W W W :  http://www.fas.harvard.edu/~hoffmann/


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