By Jungmin Hong| July 12 (Bloomberg) -- Ericsson AB, the world’s largest maker of wireless networks, plans to invest $1.5 billion in South Korea over the next five years.

The company will set up a research center in the Asian nation to develop environmentally friendly and so-called fourth- generation wireless technologies, Chief Executive Officer Carl- Henric Svanberg said in a meeting in Stockholm with South Korean President Lee Myung Bak, according to an e-mailed statement today from the presidential Blue House.

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