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Hyundai, the country's top automaker, and Microsoft did not reveal financial terms related to the laboratory, called the "Automotive IT Innovation Center." The South Korean government, however, said it will provide a total of 11 billion won (US$8.4 million) over the next three years to support local software developers.
Hyundai and Microsoft agreed in May to set up the research center.
Microsoft Chief Executive Officer Steve Ballmer is visiting Seoul to attend the opening ceremony. Ballmer was also scheduled to meet South Korean President Lee Myung-bak later in the day.
Microsoft "will make the utmost effort to help South Korean firms with competitiveness in automotive information-technology make inroads into global markets," Ballmer was quoted saying in a Korean-language press release distributed by the Ministry of Knowledge Economy.
(Yonhap)
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