YTN, NHN set news outlet for Web, wireless

YTN, a 24-hour cable news channel, and NHN Corp., a leading community portal Web site, announced yesterday that they have agreed to set up a joint venture called Digital YTN, which will provide news through wireless and fixed-line Internet. YTN and NHN will each invest 1 billion won ($830,000) as seed capital for the company, which will be a subsidiary of YTN. Digital YTN, aside from providing multimedia news content, will operate YTN’s Internet Web site. “We are planning to expand our business portfolio as a news syndicator,” an official from NHN said. “We will develop high value added information services, which we will provide both through fixed-line and wireless Internet.” YTN and NHN said they have begun plans to closely cooperate in digital business areas with the establishment of the joint venture. by Choi Ji-young