Cyworld
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 Cyworld minihompy |
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| URL | cyworld.co.kr (Korea) cyworld.com.cn (China) |
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| Type of site | Social network service |
| Available language(s) | Korean, Chinese, English, German, Japanese, Spanish, Vietnamese |
| Owner | SK Communications |
| Cyworld | |
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| Hangul | 싸이월드 |
| Revised Romanization | Ssaiwoldeu |
| McCune–Reischauer | Ssaiwŏltŭ |
Cyworld (Hangul: 싸이월드) is a South Korean social network service operated by SK Communications (Hangul: SK커뮤니케이션즈),[1] a subsidiary of SK Telecom (Hangul: SK텔레콤).
Members cultivate relationships by forming Ilchon (Hangul: 일촌, Hanja: 一寸) or "friendships" with each other through their minihompy.
Avatars and "mini-rooms",[1] small, decorate-able, apartment-like spaces in an isometric projection,[2] also feature. All of this can make for a Sims-like experience.[3]
The "Cy" in Cyworld could mean "cyber" but is also a pun on the Korean word for relationship (Hangul: 사이 'between').[1]
Revenue is generated through the sale of dotori (Hangul: 도토리), or "acorns",[4] which can then be used to purchase virtual goods,[2] such as background music, pixelated furniture and virtual appliances.[1]
Cyworld also has operations in China and Vietnam.[5]
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[edit] History
Launched in 1999,[6] Cyworld was purchased by SK Communications in 2003[1] and became one of the first[4] companies to profit from the sale of virtual goods.[2]
Cyworld soon became wildly popular in its home market with 2005 claims that practically every South Korean in their 20s[7] and 25 percent of the total population of South Korea[8] were users. By 2006 its domestic user-base numbered 19 million,[9] but this had dropped to 18 million by 2008.[10]
Its reception in some overseas markets did not prove as enthusiastic, and by 2010 Cyworld ended its operations in Germany, Japan and the United States.[5] As of 2009, it continues to provide service to the Chinese and Vietnamese markets where it has subscriber bases of seven million and 450,000, respectively.[5]
[edit] Virtual goods
In 2006, 80% of Cyworld's Korean income was generated from the sale of virtual goods.[11]
[edit] Failed US entrance
Believing that many US teenagers would use multiple social networks[11] and seeking early access to a then-quickly growing market,[12] Cyworld entered the US market in 2006.[12] It exited the market in February, 2010.[5]
[edit] Failed European entrance
In 2006, Cyworld entered a joint venture with a German Deutsche Telekom subsidiary, T-online,[12] and it launched its European version a year later.[13] But strong competition, including StudiVZ and Skyrock, and a saturated market made for dismal future prospects, and by 2008 it had closed operations.[10]
[edit] NateOn
Cyworld collaborates with NateOn, a widely used instant messenger service in Korea. If Cyworld users buy fonts with dotori in Cyworld, they can use those with NateOn, too.
[edit] Dotori
Cyworld uses its own virtual currency called dotori (Hangul: 도토리), or "acorns".[2] One dotori costs 100 won, and they are used to purchase virtual goods.[2] Prices vary from about 2 acorns for a wall painting or 6 acorns for a song that plays in your mini-room to 40 and above for a background for your homepage for a year.[citation needed]
[edit] Effect on Internet culture
Cyworld had a big effect on Korea’s Internet culture. Many renowned Korean socialites and celebrities possess Cyworld accounts.
[edit] In the media
In 2006, Cyworld received the Wharton Infosys Business Transformation Award[14] for being an organization that has made the best use of IT for transformation.[15]
[edit] See also
[edit] References
- ^ a b c d e Cyworld ready to attack MySpace money.cnn.com, July 27 2006: 11:35 AM EDT
- ^ a b c d e E-Society: My World Is Cyworld businessweek.com, Sep 26, 2005
- ^ Koreans Find Secret Cybersauce wired.com, 08.08.05
- ^ a b Tapping into growing market for virtual goods seattlepi.com, November 2, 2009 9:56 p.m. PT
- ^ a b c d Korean SNS Cyworld To Withdraw From U.S. and Taiwan telecomskorea.com, 2009/11/09
- ^ Evolution of Social Network Service into Media -Cyworld Case- October 2008 Posted on ica-it.org, A SK Communications slide-show presentation from 42nd International Council for Information Technology in Government Administration Conference in Korea in 2008
- ^ "Koreans cybertrip to a tailor-made world". The Age. 2005-05-09. http://theage.com.au/articles/2005/05/06/1115092684512.html.
- ^ "Will Cyworld Stop MySpace Juggernaut?". GigaOM. 2006-04-16. http://gigaom.com/2006/04/16/will-cyworld-stop-myspace-juggernaut/.
- ^ The high priestess of internet friendship ft.com, October 27 2006
- ^ a b SK Communications Decides to Close European Unit koreatimes.co.kr, 03-07-2008
- ^ a b Social network sites battle to befriend US teenagers ft.com, December 20 2006
- ^ a b c Korean site tackles might of MySpace ft.com, August 31 2006
- ^ Cyworld Opens German Site Last Week koreatimes.co.kr, 10-18-2007
- ^ Past Winners of the Award Infosys Official Site
- ^ Wharton Infosys Business Transformation Award (WIBTA) Infosys Official Site
[edit] External links
- Cyworld Official Websites: (South Korea / China / Vietnam / Global)
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