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Daum in talks with Google for further cooperation: Daum CEO

All Headlines 10:39 June 03, 2007

By Koh Byung-joon

JEJU ISLAND, South Korea, June 3 (Yonhap) - Daum Communications Corp., South Korea's No. 2 Internet portal operator, is in talks with global Internet giant Google Inc. for further cooperation in areas where it can create synergy, Daum's chief said.

Seok Jong-hoon, chief executive officer of Daum, unveiled the plan in a meeting with reporters in this resort island on Friday. The news was embargoed until Sunday for technical reasons.

"It is true that we are seeking a tie-up with Google in such areas as Internet cafe search and mutual use of video contents held by the U.S. company's YouTube," Seok said.

Seok made the remarks when asked to comment on mounting speculations that the two Internet giants would strengthen ties especially after he met with Google CEO Eric Schmidt on the sidelines of a digital forum in Seoul last week.

"When and how the cooperation will be made is currently under negotiations," Seok said. "Talks on details are going on in a way to create synergy for both companies and we will soon announce their results."

Daum and Google currently work together in the field of query-based online advertisement, one of major revenue sources for portal operators.

Daum, the distant No. 2 player in South Korea after NHN Corp., is seeking differentiation by providing user created contents (UCCs), mostly video clips uploaded by Internet surfers, through which it wants to build a new online ad business model.

Late last year, Google acquired YouTube, which holds a large pool of UCCs. Observers believed that Daum will likely push for a tie-up with the U.S. company to obtain such contents without worrying about copyright infringement burden.

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