Cyworld: South Korea’s leading social network

With over 18 million users out of a 48 million population, with 33 million Internet users, Cyworld is South Korea’s leading social network / blog / online community.

Created in 1999 when the online advertising market was not enough to sustain a website, and when valuations of online communities was unheard of, Cyworld had to come up with innovative business models, services and pioneered many functions which are gradually being “rediscovered” elsewhere.

7 years after its start, Cyworld is still a social phenomenon in South Korea and an extremely profitable business. It has started to expand in key markets where it faces challenges not much from competition but rather from the fact that the IT infrastructure, users’ maturity with online services, payment systems and mobile networks prevent it to deliver its full experience.

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