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CyWorld pulling out of US market

6:49 am on Nov 11, 2008 (gmt 0)

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If the translation software is working it appears that Cyworld will be shuttering their US operations [hankyung.com] (Korean). I found a short blurb in English here [reuters.com]:
South Korean social networking service Cyworld plans to withdraw from the U.S. market next month due to a deficit, according to the service operator SK Communications

What happened? Cyworld was supposed to topple MySpace et. al. They only just opened [webmasterworld.com] a few short years ago. The buzz I've read says they didn't localize the service well and that it only seemed to appeal to Korean youth in the US.

I'll have to admit I didn't bother logging in much after the initial trial. Not many people I knew used it.