Friday, March 07, 2008

Web 2.0 Asia :: Cyworld pulls plug from European market

Web 2.0 Asia :: Cyworld pulls plug from European market: "Cyworld, a Korean social network service, announced the company is shutting down its European operation (Cyworld Europe GmbH). Well, honestly I'm surprised they are closing the money-losing European service only now."

Wednesday, March 05, 2008

AsiaMedia :: KOREA: JoongAng Ilbo head to be questioned today

AsiaMedia :: KOREA: JoongAng Ilbo head to be questioned today:
"Hong Seok-hyun, who is also Samsung chairman Lee Kun-hee's brother-in-law, accused of letting Lee retain voting power over 'JoongAng Ilbo' shares sold to Hong

The Korea Herald
Tuesday, March 4, 2008
By Song Sang-ho

The independent counsel team investigating Samsung will question Hong Seok-hyun, head of the JoongAng Ilbo, today, as part of its inquiry into corruption allegations surrounding the nation's top business group.

Hong, 58, who is Samsung chairman Lee Kun-hee's brother-in-law, is alleged to have waived his company's right to acquire a partial stake in Samsung Everland, in exchange for becoming the owner of the major daily. The purported goal was to help Lee's only son, Jae-yong, acquire a controlling stake. In 1996, the daily had a 48.2 percent stake in the nation's largest amusement park operator."