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Article

Title: Korean social networking site aims to crack U.S. market

Author: Konrad, Rachel Article Type: Company
Source: San Francisco Chronicle, pD3(1) Publication Date: Aug 21, 2006
  Illustrations: Photographs
URL of Publication: http://www.sfgate.com

Henry Chon, chief executive of Cyworld Inc., wants to make this popular Korean Web site a chosen destination for teenagers and young adults in the United States. Chon believes that the company's site in the United States will become the same kind of phenomenon in this country as it is in Korea. Ninety percent of young adults in Korea between the ages of 24 and 29 are members of Cyworld. Chon believes that once Americans get a chance to visit Cyworld, they will continue to use it and make sure their friends and families do too. Industry analysts wonder how an Asian firm with fewer than 30 employees in the United States will be able to compete with large social networking sites like MySpace, which has over 100 million member profiles. Even if it becomes popular with its target audience, business experts say it could easily be outdone by a trendier site in that market. According to Rob Enderle, an analyst of online consumer behavior, the United States is 'beyond saturation' in the social networking market, and it is unclear why a Korean firm would even try to compete with the established leaders. In making Cyworld more attractive for Western audiences, the site has eliminated much of the text-heavy Korean elements and some features for cell phones. Accessing the site via cell phone is a popular way to use it in Asian markets.

Special Features: Photographs

Companies:
SK Telecom

Products:
Children & Adolescents Cyworld
Korea

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