Cisco Systems will provide up to $50m (£27.7m) to South
Korean SMEs to help to finance the adoption of the latest
networking technologies.
The fund will be established by Cisco Systems Capital Korea, the
company's local leasing and financial arm, extending an existing
facility offered to telecoms carriers and large companies.
More than $250m in financing has been provided to such companies
since 1999, said Cisco.
The SME financing service was announced by the company while its
president and chief executive, John Chambers, is visiting South
Korea to mark the tenth anniversary of Cisco Korea's founding.
Among his engagements, Chambers met South Korean Minister of
Information and Communication Chin Dae-je, the company said. South
Korea has one of the highest rates of internet penetration in the
world.
Martyn Williams writes for IDG News Service
