Cyworld’s resurrection crisis of business closure due to management difficulties → New corporation acquired

National SNS’Cyworld’ revived next month
Normalization of existing services as early as in March
Participation of a number of investors including Sky ENM

Cyworld resurrection / photo = provided by Cyworld Z

Cyworld resurrection / photo = provided by Cyworld Z

The service of’Cyworld’, a national SNS (social network service), which was in crisis of business closure, will resume.

According to the IT industry on the 2nd, the newly established company’Cyworld Z’recently acquired the right to operate the Cyworld service from Cyworld CEO Je-wan Jeon. Cyworld Z is a corporation established by forming a consortium of five companies, including entertainment company Sky E&M, and plans to normalize the existing Cyworld service as early as March.

Cyworld Z said, “We plan to normalize existing services by acquiring Cyworld services.” In particular, “CEO Je-wan Jeon also completely solved the problem of delinquent wages on January 29 through the sale price of Cyworld service.”

Cyworld is a native SNS that secured 32 million users from domestic youth to middle-aged in the 2000s. There are memories of 17 billion users’ photos, 500 million MP3 files, and 150 million videos. However, business registration was canceled in May of last year due to tax arrears from the National Tax Service.

If the service is quickly restored as planned by Cyworld Z and resumed during this month, the data of 32 million members, which have been trapped in the server so far, will be restored normally.

Cyworld Z said, “After resuming the existing service normally, we plan to release a mobile version.” The social and cultural environment is friendly ahead of Cyworld’s service resumption.”

Jang Ji-min, guest reporter at Hankyung.com [email protected]

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