Korean Online Social Network Cyworld Launches in U.S.

Authored by Mark Hefflinger on August 16, 2006 - 5:52pm.

San Francisco - Cyworld, a Korean social networking site launched in 1999 by SK Telecom, announced on Wednesday its official launch in the U.S. The company said 92% of Koreans aged 24-29 are Cyworld members, while its Chinese site has signed up 1.8 million members in six months. San Francisco-based Cyworld USA said it will appeal to 16-24-year-olds, and, as in Asia, it will offer sales of digital items like skins, avatars and charms. The company said item sales on Cyworld in Asia are expected to reach $100 million this year. "Cyworld offers a brand identity that transcends cultural borders, a superior service model, proven technical strength, and business know-how to deliver a refreshing social networking platform," said Yoo Hyun-oh, president of SK Communications.

http://biz.yahoo.com/prnews/060815/sftu109.html?.v=62
http://www.cyworld.com