Bowing Out…

FT.com. Yahoo has decided to pull the plug on its portal service in South Korea in December after years of struggling to compete in one of the world’s most wired markets.

“Yahoo has faced several challenges in the past couple of years and decided to pull out of the [Korean] business to put more resources on global business and become more powerful and successful,” the internet service provider said on Friday.

Yahoo is a marginal player in South Korea’s internet search sector, having only 2-3 per cent market share.