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Qualcomm to look for investment in S.Korean firms

Mon Apr 6, 2009 10:00pm EDT

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SEOUL, April 7 (Reuters) - Qualcomm Inc (QCOM.O), the world's biggest maker of mobile phone chips, will look for South Korean companies to invest in under a government investment promotion programme, South Korea's economy ministry said on Tuesday.

Stocks  |  Mergers & Acquisitions  |  South Korea

Qualcomm, which developed the CDMA wireless technology that has long been the dominant standard in South Korea, would review small- and medium-sized Korean technology firms for possible investment and alliance deals.

The U.S. wireless technology firm will choose a local partner by October this year, the Ministry of Knowledge Economy said in a statement.

Qualcomm Chief Executive Paul Jacobs is visiting South Korea this week to meet government officials and top domestic technology firms. (Reporting by Rhee So-eui; Editing by Jonathan Hopfner)

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