Lycos Takes On Yahoo In Korea
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The successful debut of Lycos Korea is posing a threat to Yahoo! Korea, which has been the leading portal site in the country.
Lycos Korea, which was established last March as a 50-50 joint venture between Lycos Inc. and Mirae Corp., launched its Korean-language search engine 'Lycos Korea' on July 1, with its first day's pageviews recorded at nearly one million.
The initial achievement is considered as remarkable since Yahoo! Korea, Lycos Korea's biggest rival, took almost six months to hit one million pageviews after its launching of Internet search service in Korea.
"Such an unbelievable record in page views was due partly to the rapidly increasing number of Internet users in Korea. However, it also reflects the fact that Korean Internet users had long been waiting for a new Internet portal service like Lycos Korea," said Chung Moon-Soul, president of Lycos Korea.
Lycos Korea has succeeded in attracting Netizens to the search site by offering stock market information more precisely and easily than its competitors and enabling users to compare securities information such as recommended stocks and market outlook along with market information provided by local securities firms at the same time, according to Lycos Korea.
Also, it is known that its search engine is favorably received among Korean Netizens because of its convenience and accuracy in search results compared with other search sites in Korea.
"Based on the structure of Lycos of the U.S., we are seeking to localize our service through strategic alliances with various Korean companies, and to establish itself as the most efficient Internet guide in Korea," Chung said.
Industry analysts say that only a few large Internet portals such as Lycos and Yahoo! will survive in the midst of toughening competition among local portal sites.
But, the current trend of the Internet industry shows that specialized secondary portals such as Women Plus or Kids' Home have a great growth potential and will become strong contenders in the near future because large Internet portals will not be able to meet with all the needs of Netizens.