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Lycos has formed a joint venture with the Korean technology company, Mirae Corporation, to form Lycos Korea. The new online community will provide localised versions of Lycos.com, Tripod and MailCity. Lycos will provide its search, navigation and community technologies to Lycos Korea. Mirae will manage the day-to-day operations such as local content aggregation, sales, marketing and administration, from its headquarters in Korea. Lycos and Mirae will each own 50 per cent of the new portal venture. The Korean Internet market is one of the fastest growing in the Asia/Pacific region, second only to Japan. According to the Korea Times, the country currently boasts around three million Internet users. Numbers are expected to reach ten million by 2002. ®

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