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Microsoft embarks on IPTV joint venture in South Korea
Microsoft has signed agreements with two South Korean firms for a joint venture into the country's emerging Internet TV market. Despite being one of the world's most wired societies, South Korea has been relatively slow in the market because of disagreements between the broadcasting and communications industries.
South Korea's second-largest portal, Daum Communications Corp, and local set-top box maker Celrun, are Microsoft’s new partners. Daum will provide content and know-how, while Microsoft will offer its own IPTV solutions and focus on overseas marketing. Celrun will provide equipment.
The new venture follows the recent passage of a bill in South Korea’s parliament which will allow customers to watch video on demand this year, as well as real-time programming including sports, dramas and news from next year.
The joint venture partners aim to start the video on demand service in the second quarter of 2008, when the joint venture will be formally launched.
Daum Communications is also ready to provide real-time broadcasting if a licence from the government can be secured. Daum is the third company to enter the country's IPTV market to offer video on demand.
The IPTV market is growing fast, with 16 million local clients predicted by 2011. Hanarotelecom, a fixed-line Internet operator, is the leader in the VOD Internet TV industry in South Korea, followed by local giant KT Corp.
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