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Technology Stocks : Korea Thrunet Co Ltd - (KOREA) -- Ignore unavailable to you. Want to Upgrade?

To: R. Bond who wrote (392)	3/8/2000 2:11:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 406

Korea Thrunet Confirmed the Acquisition of Korea.com SEOUL, South Korea and NEW YORK, March 8 /PRNewswire/ -- Korea Thrunet Co., Ltd. (Nasdaq: KOREA - news) today confirmed the acquisition of Korea.com on February 19, 2000 for 5 million dollars. Korea Thrunet have created a special task force to create a unique portal strategy to develop the domain name, which it believes will be the most recognized site in the country. ``The company believes the power of this domain will equip it with an overwhelmingly powerful tool to compete against our competitors in gaining Internet traffic and access in Korea.' Jae Hyun Lee, Senior Vice President of Strategic Planning at Korea Thrunet states, ``the launch of this domain will position Korea.com to be the single most visited mega-portal in the Korean Internet industry to fulfill our vision of enabling e-society through seamless interface.' Currently, the ``Task Force Team' for Korea.com is in the process of revamping the Company's portal sites and implementing a strategy to adopt Korea.com into its business scheme to be a multi access mega portal. The ``Task Force Team' is simplifying the site for easy navigation in line with the feedback of its customers. Under the Korea.com umbrella, Korea Thrunet shall leverage off of its three premier brands Thrunet (Broadband), Nownuri (Narrowband), and Metaland (B2C e-commerce), as well as to future additions and expects to be able to launch the new site this summer. Further details will be discussed during the 4th quarter earnings release on Tuesday, March 14th Korean time or March 13th US time.