US software giant Microsoft agreed Tuesday to set up a joint venture with two South Korean firms for a foray into the country's nascent Internet TV market, officials said.
The deal reached here involves Microsoft, South Korea's second-largest portal Daum Communications Corp and local set-top box maker Celrun, said Daum spokeswoman Park Hyun-Jung.
Daum will provide content and know-how, while Microsoft agreed to offer its own internet-protocol TV (IPTV) solutions and focus on overseas marketing, she said. Celrun will provide equipment.
Internet TV allows viewers with a broadband connection to choose content as well as receive live programming.
Microsoft, Venturem Joint-Venture, TV, Internet, Online, Online TV, Internet TV, IPTV, Korea