OhmyNews.com

OhmyNews.com is a web site in Seoul, Korea (South) covering local news, sports, business, jobs, and community events.

This web site is owned by Oh Yeon Ho.

The web site is presented in the English and Korean languages.

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Mondo Times editors Boulder, Colorado USA

Posted at 8:28pm on Friday, July 10th, 2009

The founder of South Korea's OhMyNews website is asking readers for cash, The Guardian newspaper reported July 8, 2009:

"The founder of the South Korean citizen journalism site, OhmyNews, has appealed to readers for financial contributions to keep the business afloat in the global economic downturn.

In an open letter published on the OhmyNews site today, Oh Yeon-ho disclosed that the site lost 50,000,000 Korean Won (£248,735) this year amid fears of heavier losses as advertisers keep slashing their marketing budgets.

"For a news media to remain healthy, it will have to earn at least 50% of its income from the sales of content or paid subscriptions. Despite our best effort, OhmyNews still relies on advertisers for more than 70% of its revenue," Oh said."

The full story:
http://www.guardian.co.uk/media/2009/jul/08/ohmynews-appeals-for-cash

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