Yahoo, once the darling stock in the tech world, has announced that they will cease all operations in South Korea, which is another blow to the once mighty Web giant who is now struggling against Google as well as other local competitors that are expanding rather aggressively into the realms of mobile advertising and online services. Out of all the Asian countries that Yahoo has a base in, South Korea would be the first that Yahoo is pulling out from, sharing a statement that read, “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.”
Yahoo Korea opened their doors one and a half decades ago, and is wholly owned by the U.S. search company. Pulling out from South Korea would mean there are approximately 200 to 250 folks there who will be jobless as the Korean online portal’s services are terminated in a couple of months’ time.
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