UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


                                 SCHEDULE 13G



                   Under the Securities Exchange Act of 1934



                            Korea Thrunet Co., Ltd.
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                             Class A Common Shares
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   Y49975108
                        ------------------------------
                                 (CUSIP Number)


                                March 14, 2001
- --------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)


                                 John Seethoff
               Associate General Counsel, Finance and Operations
                               One Microsoft Way
                        Redmond, Washington  98052-6399
                                 (425) 882-8080
- --------------------------------------------------------------------------------
                (Name, Address and Telephone Number of Person
               Authorized to Receive Notices and Communications)


Check the appropriate box to designate the rule pursuant to which this schedule
is filed:

     [_] Rule 13d-1(b)

     [X] Rule 13d-1(c)

     [_] Rule 13d-1(d)


*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



  CUSIP NO. Y49975108
- ------------------------------------------------------------------------------
      Name of reporting person S.S., or I.R.S. Identification No. of above
 1.   person

      Microsoft Corporation 91-1144442
- ------------------------------------------------------------------------------
      Check the Appropriate Box if a Member of a Group (See Instructions)
 2.                                                             (a) [_]
                                                                (b) [_]
- ------------------------------------------------------------------------------
      SEC Use Only
 3.

- ------------------------------------------------------------------------------
      Citizenship or Place of Organization
 4.
      State of Washington
- ------------------------------------------------------------------------------
                          Sole Voting Power
                     5.
     Number of            7,542,858
      Shares       -----------------------------------------------------------
                          Shared Voting Power
   Beneficially      6.
     Owned by             -0-
                   -----------------------------------------------------------
       Each               Sole Dispositive Power
                     7.
    Reporting             7,542,858
      Person       -----------------------------------------------------------
                          Shared Dispositive Power
       With:         8.
                          -0-
- ------------------------------------------------------------------------------
      Aggregate Amount Beneficially Owned by Each Reporting Person
 9.
       7,542,858
- ------------------------------------------------------------------------------
      Check if the Aggregate Amount in Row (9) Excludes Certain Shares
10.
                                                                    [_]
- ------------------------------------------------------------------------------
      Percent of Class Represented by Amount in Row (9)
11.
      10.5%
- ------------------------------------------------------------------------------
      Type of Reporting Person
12.
      CO
- ------------------------------------------------------------------------------



Item 1.

     (a) Name of Issuer:  Korea Thrunet Co., Ltd. (the "Company")

     (b) Address of principal executive offices of the Issuer:

          Thrunet Building
          1337-20, Seocho-2dong
          Seocho-ku
          Seoul, Korea  137-751

Item 2.

     (a) Name of Person Filing:  Microsoft Corporation, a Washington corporation

     (b) Address of Principal Business Office:
         One Microsoft Way, Redmond, Washington 98052
         Attention: Associate General Counsel, Finance and Operations

     (c) Citizenship:  State of Washington.

     (d) Title of Class of Securities:  Class A Common Shares

     (e) CUSIP Number:  Y49975108


Item 3.  Not Applicable.

Item 4.  Ownership.

     (a)  Amount beneficially owned:   7,542,858 Class A Common Shares, par
                                       value Won 2,500 per share.

     (b)  Percent of class:   10.5%

     (c)  Number of shares as to which the person has:

          (i)   Sole power to vote or to direct the vote:    7,542,858

          (ii)  Shared power to vote or to direct the vote:  0

          (iii) Sole power to dispose or to direct the disposition of:
                7,542,858

          (iv)  Shared power to dispose or to direct the disposition of:  0


Item 5.  Ownership of Five Percent or Less of a Class:   Not Applicable.

Item 6.  Ownership of More than Five Percent on Behalf of Another Person:
         Not Applicable.

Item 7.  Identification and Classification of the Subsidiary Which Acquired the
         Security Being Reported on By the Parent Holding Company:
         Not Applicable.



Item 8.  Identification and Classification of Members of the Group:
         Not Applicable.

Item 9.  Notice of Dissolution of a Group:  Not Applicable.

Item 10. Certification:  By signing below I certify that, to the best of my
         knowledge and belief, the securities referred to above were not
         acquired and are not held for the purpose of or with the effect of
         changing or influencing the control of the issuer of the securities and
         were not acquired and are not held in connection with or as a
         participant in any transaction having that purpose or effect.

                                   SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


                                           March 14, 2001

                                           MICROSOFT CORPORATION


                                           By /s/ John Connors
                                             --------------------------------
                                           John Connors
                                           Chief Financial Officer