Korean Social Network Cyworld to Shutter U.S. Service

Authored by Mark Hefflinger on November 6, 2009 - 9:42am.

Los Angeles - Cyworld, a Korea-based online social network owned by SK Telecom, has decided to shutter its U.S. service three years after launch, having failed to attract a large audience.

The company reportedy invested at least $10 million into launching Cyworld in the U.S.; last year, it laid off its U.S.-based staff and moved those operations to Korea.

TechCrunch noted that the U.S. site was drawing just 112,000 monthly visitors.

The company claims that 25% of the total population of South Korea is registered users.

The U.S. Cyworld service is set to go dark on Nov. 23.

Related Links:
http://snipurl.com/t3tgv (TechCrunch)

http://snipurl.com/t3sw0 (PaidContent)

http://us.cyworld.com