Seoul, South Korea - Korean peer-to-peer music service Soribada says it has obtained government approval to launch a legal, subscription-based P2P service, Billboard reports. The company claims it has obtained licenses from local labels, and told Billboard it has a deal with Universal Music and expects to close additional pacts soon with the other majors. Launched in 2000, Soribada's user base swelled to 15 million before lawsuits forced a change in strategy. The service now counts 700,000 subscribers and saw sales of $29 million last year.

Related Links:
http://snipurl.com/21z39 (Billboard)

http://www.soribada.com