Wu Yun, former CEO of the Chinese video website Ouou.com, has confirmed to Sohu.com that he has left Ouou.com and become CEO of Cyworld, a wholly-owned subsidiary of the Korea-based SK Telecom.
Former CEO of Cyworld will be responsible for the development and management of SK Telecom's other businesses in China.
Commenting on the reasons for his departure from Ouou.com, Wu says with the financial crisis background, Internet video websites are also facing a life and death crisis, so Ouou.com does not need to maintain a large scale expansion. At present, there is not much to do in Ouou.com, so he handed over his work to other colleagues. According to Sohu.com, Ouou.com has not updated new contents for over two months and all of its latest updated videos are marked with the date of November 20, 2008.
Apart from Cyworld, Wu will also be in charge of SK Telecom's other businesses related to Internet investment in China. Prior to this, Cyworld had published reports with plans to withdraw from the European and Taiwanese markets, and rumors about a large-scale layoff on Chinese mainland was also spread on the Internet.