Yahoo now expects the company to withdraw from the South Korean market will cost 94 million of dollars

Source: Internet
Author: User
Keywords Yahoo estimated to evacuate South Korean market
Tags close company cost financial market office yahoo news

Yahoo now expects the company to leave the South Korean market will cost 94 million of billions of dollars. South Korea will also become the first country to withdraw from the company after Marissa (Marissa Meyer) as Yahoo's chief executive.

Yahoo has recently disclosed in its regulatory filings details of the financial implications of the evacuation plan. Yahoo has previously announced that its withdrawal from the South Korean market will result in the reduction of its 200 employees in South Korea. The withdrawal of the South Korean market will result in 5 million of billions of dollars in employee compensation and the 2 million dollars needed to close the rented office, which will be settled in cash, according to Yahoo News. In addition, there will be some non-cash expenses, including "goodwill assets and other asset damage", which amounts to about 87 million dollars.

Yahoo claims that these costs will be counted in the current business quarter, the current business quarter will end on December 31, 2012, which is the deadline for Yahoo to complete the withdrawal of the South Korean market.

"The decision to withdraw from the Korean market is part of our efforts to streamline operations and leverage resources to build stronger long-term growth and successful global operations," Yahoo said in a statement on October 19. ”

Yahoo did not disclose much of the exact reason for its withdrawal from the South Korean market, but interestingly, Yahoo's statement explained: "More and more challenges are making Yahoo's job in the Korean market ' exceptionally difficult '." ”

Website ranked company Alexa will Yahoo News and search portal listed in the Korean market, the 9th largest user visit site, behind its rivals-South Korea's largest search engine Naver, but also behind Google (Weibo) and other companies.

In other Asian markets, Yahoo has also dumped its stake in China's E-commerce giant Alibaba at $7.6 billion trillion, and Yahoo has long sought to pull out of Yahoo Japan, which is operating in partnership with SoftBank.

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