Swedish-based telecom network maker Ericsson has announced it will be investing $1.5 billion over the next five-years in South Korea to build a research center to create fourth-generation network equipment.

Under the plan, Ericsson will employee a total of 1,000 people at its South Korean-based unit, up from just under 100 current employees.

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eBay announced today the company has bought a controlling 67% stake in South Korea’s largest internet-based marketplace, Gmarket, in a deal worth US $1.2 billion. The deal was approved unanimously across the Gmarket board.

It is highly unlikely eBay will merge Gmarket with its current brands in the region.

eBay CEO John Donahoe said, “The combination of Gmarket and Internet Auction Company establishes an exceptionally strong leadership position for eBay in one of the world’s largest, most dynamic and innovative e-commerce markets,”

It is a good strategic strategy for eBay to try to further establish itself in the emerging and high growth Asian region markets.

The deal will be completed in only a couple of months in June 2009.