While MySpace had a high profile launch in Korea last April, they’ve recently sent out a notice to Korean MySpace users that the localized site for Korea will close later this month.
MySpace launched in Korea with a fairly well thought out strategy to reach Korean users: connecting with local software developers using their OpenSocial platform, designing a customized site for Korean users and linking up with local musical artists to promote the site.
MySpace co-founder and CEO Chris DeWolfe’s thoughts on entering the Korean market while he visited Seoul to promote the MySpace launch last year:DeWolfe said other companies have failed to sufficiently pay heed to local culture, a mistake he said MySpace is trying to avoid.
“We’ve done a lot of studies on what went wrong with those companies and why,” DeWolfe said.USA Today just wrote a profile on how the financial crisis is affecting MySpace and their plans for the future Forgive Chris DeWolfe if he isn’t wildly celebrating MySpace’s five-year anniversary. As he prepares MySpace for the next half decade, the CEO of the social-networking behemoth is acutely aware that it will be harder to navigate an economy shaken by recession while slugging it out with Facebook.
You can read the announcement (in Korean) on a MySpace Korea official page.
Web 2.0 Asia: Myspace launches in Korea officially (April 15, 2008)
Futurize Korea: Entering new markets: CyWorld, Second Life (November 15, 2008)
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