The Straits Times
Published on Oct 19, 2012

Yahoo to pull out of South Korean market: Report


SEOUL (REUTERS) - Yahoo's South Korean operation has decided to pull out of the country and end its local Internet portal service in December, Yonhap news agency reported.

"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 agency quoted Yahoo as saying in a statement.

Yahoo Korea was not immediately reachable to confirm.