SoftBank Group Corp. 9984 -2.80 % Chief Executive Masayoshi Son on Friday said he intends to invest around five trillion won ( 4.5 billion) in South Korea's technology sector over the next decade. A SoftBank spokesman said that during a meeting with South Korean President Park Geun-hye in Seoul, the founder of the Japanese telecommunications and internet conglomerate said he intended to invest in fields including smart robots, the "Internet of Things" and artificial intelligence, areas Mr. Last year SoftBank invested 1 billion in South Korea's largest mobile-commerce company, Coupang, which the companies said was the largest-ever internet investment in South Korea. Friday's meeting comes after SoftBank closed earlier this month its 32 billion deal to acquire U.K. chip maker ARM Holdings PLC in the largest acquisition of a European technology company.
Seoul and Washington have agreed to join efforts to develop an advanced artificial intelligence (AI) technology to counter cyberspace threats, according to a joint statement quoted by the local media on Monday. The two countries "intend to explore areas of mutual value and benefit, which may lead to joint activities aimed at enhancing operational readiness to support cybersecurity, and resilience," the statement issued by the US Department of Homeland Security and the South Korean Ministry of Science reads as quoted by Yonhap news agency. The South Korean ministry told the media that the sides had agreed to cooperate on joint research on "AI-based cybersecurity" following the recent visit to the country of Reginald Brothers, the US under secretary for science and technology. Last month, South Korean media reported that North Korea had allegedly carried out a number of cyberattacks and stolen information from dozens of Seoul top government officials' smartphones.