Cyworld, the South Korean social network that launched in the US in 2006 with a splashy party has packed up its bags and left the US market. The South Korean social network that is backed by SK Telecom will layoff its entire staff in the US and will continue to operate the English-language site from South Korea. The service really didn’t get any traction. Its localization efforts were mediocre at best. I bet other smaller marginal social networks meet the same fate.

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SK Telecom, the South Korean carrier who till now has frittered away hundreds of millions of dollars trying to get a toehold in the U.S. market, was rumored to be looking to spend a few billion to buy Sprint, in partnership with some private equity firms, according to news reports based on a CNBC claim. […]

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