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Yahoo to exit South Korea by end of year

By Youkyung Lee
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SEOUL, South Korea (AP) — Yahoo Inc. said it will close its South Korean web portal and an Internet advertising business, cutting its losses in a market where it has struggled for over a decade.

Yahoo’s South Korea unit said Friday its Seoul office with over 200 employees will be shut by the end of this year. The decision comes after former Google executive Marissa Mayer took the helm at the struggling U.S. Internet company in July.

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