Daum, one of the biggest portals in Korea (and the owner of Lycos USA, after it bought out the company last year), has settled with Microsoft, marking an end to the last private anti-trust lawsuit against MSFT in the country.

The settlement with Daum includes a $10 million cash payment, an advertising commitment valued at $10 million and other business terms estimated at $10 million. The deal also includes Microsoft’s new online partnership with Daum, through which Microsoft will post select online content from Daum on the MSN website.

But Korea’s antitrust authority said it would continue its review of allegations of unfair business practices by Microsoft, despite the settlement.