Yahoo Says Final Good Bye To South Korea

Posted on Dec 31 2012 - 10:15am by Editorial Staff
Yahoo

Yahoo

Yahoo said a final good bye to South Korea, reports the Yonhap News Agency. The company through putting up a notice on the company’s site will provide detailed instructions on what services will go to dark, while most of them shutting off on New Year’s Eve i.e. today December 31. The company announced its plan back in October about its withdrawal plan from the country although the cost of moving out as per company’s recent 8K filing is $94 million.

The company has operated in Korea since 1997, the company says earlier at the time of reaffirming its continued commitment to Asia: “This decision is part of our efforts to streamline operations and focus our resources on building a stronger global business that’s set up for long-term growth and success.” This is not the case of Yahoo, other foreign companies also experiencing the similar kind of heat.

(Image Credit: Flickr / NialKennedy)

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.