Yahoo! is shutting down their operations in South Korea today. There will be a loss of several hundred jobs there as a result. Yahoo! has been in South Korea for around 15 years. ?Yahoo will halt all products, services and content of Yahoo Korea starting Dec. 31 in addition to ending customer support in Korea on the same day,? stated Yonhap News.
Yahoo! is not as popular as some of the local search portals that launched in South Korea like Naver.com and Daum.net. Yahoo! Korea has less than a 1% market share there. Yahoo! said that they were still committed to Asia. For example, Yahoo! Auctions is continuing to operate in Hong Kong, Taiwan, and Japan. Earlier this month Yahoo! shut down their music service in China.